Artificial Intelligence (AI) offers compelling business benefits, including enhanced customer service, streamlined operations, and increased efficiency.
It is a revolutionary technology that speaks the language of almost every business in today’s modern market.
This impressive technology allows enterprise processes to work – and add value, instead of just running or existing.
Giving AI data will result in the creation of seamless customer experiences, improved productivity, increased cyber defense, and the identification of new business opportunities – but at what cost?
The potential moral and ethical fallout with this level of technology is considerable, but there are responsible ways to use it.
Fairness & Inclusivity
For social and economic prosperity, fairness and inclusivity are essential in business practices.
When AI is first introduced, it is vital that the correct data sets and algorithms get used to set it up. Companies must use fair AI models to avoid discrimination and ensure that marginalized groups are not unfairly excluded.
For example, due to skewed training data, AI-powered recruitment tools have been found to favor male applicants over female ones.
Accountability
Algorithmic accountability is not just a concept – it is a legal requirement.
Under the U.S. Algorithmic Accountability Act, policies to curb AI bias, enhance inclusivity and fairness are highlighted and enforced.
Bias in AI models typically comes from two sources: the training data used and the design of the models themselves. AI models can sometimes reflect the assumptions of the developers who coded them, causing them to favor specific outcomes.
Think of it like parents raising their children, knowingly or not, they impart their beliefs onto their children. When in training, AI algorithms pick up patterns of historical biases or systemic disparities and make assumptions that can lead to widespread discrimination.
This is why it is crucial to address these potential biases and implement responsible AI policies before they perpetuate inequalities and unfairness in the workplace.
Privacy
AI technologies handle, analyze, and store vast quantities of data, raising questions about the privacy and protection of said data.
Issues around transparency and data security are not new, but the scale and magnitude of AI’s ability to process data have led to more significant challenges.
Organizations and businesses must ensure compliance with privacy laws and individuals’ requests for deletion of their data.
Understand the Risks
AI systems are capable of some impressive tasks – but there is an increased risk to data subjects and their personal information when these systems perform ethically and legally questionable activities, such as location tracking and behavior monitoring.
That leads us to the Deepfake threat.
Deepfakes are realistic but falsified images, videos, and even audio clips that pose concerns in the field of artificial intelligence.
These fabricated creations are convincing at impersonating individuals with horrifying accuracy, leading to identity theft, reputational damage, and fake news.
In Conclusion
AI offers businesses a powerful toolkit for enhanced decision-making, improved productivity, and automation – but it must be used responsibly to benefit both your business and society.
To avoid mishaps, ensure there is a well-defined protocol for human intervention in your AI systems and train your employees on how to use it.
