We are planning to start an AI Governance council. What kind of roles should be members? I am thinking of at least CFO and CIO, but looking for input on others. 

Two roles not yet mentioned much include the CHRO and CISO.  AI is going to impact talent heavily and HR needs to be at the table understanding and driving that impact.  AI also opens up a whole new avenue over cybersecurity threat that the CISO needs to be aware of and driving conversations around.  Chief Data Officer and Chief Risk Officer are also critical but have already been mentioned.  

The four highest value use cases for GenAI according to McKinsey are Customer Service, Sales & Marketing, AppDev / Code Generation and IT Operations.  So if that lines up with how you are going to leverage AI internally, I would make sure each of those areas are also well represented.  

The role of AI Governance Council (advisory) is ideally board-level mandate to ensure that company strategy actively anticipates and keeps pace with AI advances. Their role is to oversee and monitor the use of AI throughout the lifecycle, including end-to-end risk management for experimentation, development, integration, testing, deployment, maintenance, usage, and retirement.
 
For an enterprise-level organization, the CEO and senior leadership (business and IT) are primarily responsible for setting the overall tone and culture of the organization and ensuring their organization applies sound AI governance throughout the AI lifecycle. They also invest in employee AI governance training, actively participate in develop internal policies and procedures, and create a culture of open communication and collaboration.
 
- The legal and general counsel are critical in assessing and mitigating legal risks and ensuring compliance with relevant laws and regulations. 
- Internal Audit teams are essential for validating the data integrity of AI systems and confirming that the systems operate as intended without introducing errors or biases. 
- The CFO oversees the financial implications, managing the costs associated with AI initiatives and mitigating any financial risks. 
 
Depending upon AI Governance Framework designed/adopted and the organisation structure, one must understand and establish the roles and responsibilities of AI governance council. It will need representation of people and groups from business and IT including, but not limited to, the chief information officer, the chief information security officer, the chief privacy officer, the chief ethics officer, the ethics board, the chief risk officer, data governance board, architecture steering groups, third-party/vendor/supplier management group, AI project managers, etc. 

AI Governance - Creation of an Industry-Leading AI Governance Council

[Call-Outs] This is not something you will find in roles, and most C-Suite, do not understand the technology or impact at this time. The goal of this council should be to enable these areas, roles, and leaders to gain the necessary insight to be enabled to drive this from a knowledge understanding.

Here is how I would look to structure this:

[Primer]
This strategic initiative aims to not only form an AI Governance Council but to establish it as an industry powerhouse, driving excellence, ethical leadership, and continuous innovation in AI governance practices. The envisioned outcome has a transformative impact on the industry landscape, setting the gold standard for responsible and effective AI use.

1. Foster Strategic Alignment for Impactful AI Initiatives:
Objective: Establish an AI Governance Council with the express goal of strategically aligning all AI initiatives with industry-leading practices, ensuring a profound impact on organizational success.

2. Champion Ethical Excellence in AI Leadership:
Objective: Elevate the industry standard by forming a Council that champions ethical excellence in AI leadership, setting a benchmark for responsible practices, transparency, and fairness. 

(This is also in line with Microsoft's "Responsible AI Framework")

3. Mitigate Risks, Ensure Compliance, and Safeguard Reputation:
Objective: Create a dynamic Council focused on identifying and mitigating risks associated with AI, ensuring impeccable compliance with regulations to safeguard the organization's reputation and operational integrity.

4. Instill a Culture of Transparency and Trust:
Objective: Position the AI Governance Council as a beacon of transparency, fostering a culture of openness in AI decision-making processes to build trust among peers, stakeholders, and the wider industry. ( I think this is key since it also follows my method of ACT - alignment, clarity, and transparency.)

5. Drive Continuous Learning for Adaptive Industry Leadership:
Objective: Develop an AI Governance Council that acts as a powerhouse of knowledge, driving continuous learning and adaptability to keep industry leaders at the forefront of evolving AI technologies, standards, and best practices.

I hope this helps. Let me know if there are any questions. 

To establish an AI Governance Council, you should think about having members like the CFO, CIO, Chief Data Officer, Chief Ethics Officer, Legal Counsel, Chief Risk Officer, data scientists, business unit leaders, HR leaders, external advisors, and customer/stakeholder representatives. This diverse team will be responsible for overseeing AI strategy, ethics, compliance, risk management, and ensuring alignment with our business objectives. Consistent meetings and open collaboration are crucial for fostering responsible AI adoption.

Well, to be sure Risk and Compliance are key roles for the council. We may also need to look at other, non-traditional roles like Ethics Officer for advanced use cases of AI.