AI has driven massive change over the past three years, but governance has struggled to keep up – creating integrity and compliance gaps. Now, the compliance risks of AI hallucinations, poor understanding of outputs and democratized AI use are becoming clearer, while some organizations are also seeking to reduce soaring AI operational costs.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...