Navigating Risks in the Procurement of Third-Party AI Tools

This article is a technical report that addresses the multifaceted risks associated with the procurement of third-party artificial intelligence (AI) tools in healthcare. It outlines the evolving regulatory landscape and the compliance challenges faced by professionals as AI adoption accelerates. The report details key risk mitigation strategies, including due diligence of AI vendors, contract negotiation, and continuous auditing of AI tools. It presents notable use cases of AI in healthcare, such as enhancing diagnostics and streamlining workflows, while also discussing potential risks like patient safety, fraud, data security, and bias. The article emphasizes the importance of understanding the legal implications and the need for robust compliance oversight. It also describes a structured AI vendor due diligence process that organizations should adopt to manage these risks effectively. This comprehensive approach is essential for ensuring that AI tools are utilized safely and effectively within healthcare settings.