The rapid advancement of large language models (LLMs) like ChatGPT has captured headlines and imaginations. AI systems can now generate amazingly human-like text on any topic with just a few prompts.These behemoths, with their unparalleled capabilities, have necessitated a reevaluation of governance models. As organizations explore integrating LLMs into business operations, it’s crucial to implement governance measures enabling innovation while managing risks. As executives, understanding the transition from traditional machine learning governance to LLM-centric AI governance is crucial.