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In this episode of the AI Engineering Podcast Jim Olson, CTO of ModelOp, talks about the governance of generative AI models and applications. Jim shares his extensive experience in software engineering and machine learning, highlighting the importance of governance in high-risk applications like healthcare. He explains that governance is more about the use cases of AI models rather than the models themselves, emphasizing the need for proper inventory and monitoring to ensure compliance and mitigate risks. The conversation covers challenges organizations face in implementing AI governance policies, the importance of technical controls for data governance, and the need for ongoing monitoring and baselines to detect issues like PII disclosure and model drift. Jim also discusses the balance between innovation and regulation, particularly with evolving regulations like those in the EU, and provides valuable perspectives on the current state of AI governance and the need for robust model lifecycle management.