AI governance is critical to ensure systems are developed and used in a way that complies with legal, regulatory and ethical standards, and to mitigate potential risks, such as security vulnerabilities. IAPP and Credo AI surveyed more than 670 individuals from 45 countries about their organizations’ approaches to AI governance and issued a report with benchmarking data (Report), which includes steps taken by Mastercard, TELUS, Boston Consulting Group, Kroll, IBM, Randstad and Cohere. This article synthesizes the key takeaways from the Report and relevant insights shared during IAPP’s Global Privacy Summit 2025 by representatives of IAPP, Credo and IBM. See “AI Governance: Striking the Balance Between Innovation, Ethics and Accountability” (Feb. 12, 2025).