Artificial intelligence (AI) is cementing its relevance in various industries. With its multiple advantages, businesses from all sectors aim to utilize this innovation to their own ends.
With AI becoming more widespread for various reasons, the danger of using it in destructive and irresponsible ways is possible.
How should AI be used? More importantly, how can it be ethically applied to various fields and usage? This brought the discourse of ethical AI for business and society to the fore.
But what is ethical AI? How is it beneficial to businesses and society? Lastly, what are the best practices to implement it? All of these and more are in the sections below.
What is ethical AI?
Ethical AI is the responsible and transparent development, use, and implementation of artificial intelligence and its related technologies.
Respect for the dignity and worth of human beings and communities is at its core. With humans at the center of its development and use, democratic values such as fairness, accountability, and transparency are vital.
Ethical AI entails the responsible development of AI systems and technologies at every stage, including:
- Data collection
- Designing of systems
- Decision-making processes
It also includes the transparent usage of the data in making algorithms. Features that can potentially pry into the privacy of individuals or organizations need to be discouraged. At the same time, data sets must be free from any biases.
This is crucial since AI systems make decisions based on how they are programmed. If the data sets are tampered with and biased, this can be discriminatory during the implementation.
Benefits of ethical AI
To better understand ethical AI, below are the benefits it can provide for private companies and organizations:
Reputation and customer trust
Companies that adopt ethical AI practices will gain more respect, trust, and a positive reputation.
Like corporate social responsibility, ethical AI promotes the well-being and primacy of the 3Ps. With people, the planet, and profit at the core of business operations, the public and various stakeholders will forge lasting relationships. They know they are well taken care of, and the organization’s values are similar to theirs.
For instance, the value of transparency promotes appropriate and careful usage of user data. This reduces the likelihood of identity theft and cyber-attacks.
Competitiveness and innovation
Companies tagged as practicing ethical AI will be more likely to benefit profit-wise. It will be easier for them to develop and create new products as the public will trust and consume them.
With sustainability as their primary marketing strategy, the public will keep on supporting it to promote and shape the industry to turn to best practices.
This is what happened with the Green movement. Companies that adopted green practices received seals of approval which users and supply chains look for in choosing their trusted brand.
Reduce risks and liabilities
Ethical AI promotes the careful and human-centric development and deployment of AI-enabled technologies. Through this, abuse of the systems can be curtailed.
Invasion of privacy and use for transnational crimes can be better monitored and managed to ensure that communities and individuals are safe. In its implementation, appropriate safeguards and rules are applied by organizations.
Ethical AI best practices for business leaders
Business leaders are integral to the success and implementation of ethical AI. They hold the key to its responsible use, designing, and deployment.
Business leaders that are aware of the implications and advantages that AI can do will make careful and strategic decisions that will benefit them and their bottom line.
Below are key best practices business leaders can follow:
Establishing guidelines and standards of practice
The old saying to lead by example never goes out of style. With the integration of AI, business leaders can create non-negotiable ethical principles and guidelines the organization will follow.
These guidelines can include different phases such as data collection, the development of algorithms, and the deployment of the system.
Ethical AI guidelines must always ensure that individuals are at the center of operations and are always protected.
Culture of transparency and accountability
Business leaders should make sure that AI systems are checked and assessed regularly. It will allow them to see whether their use and function are aligned with the principles of ethical AI.
Quarterly audits and ethical review boards must be conducted to support these objectives.
Privacy and civil liberties are important
One of the major problems and issues concerning AI and the Internet of Things (IoT) is privacy. In the past, the application of AI has intruded into users’ personal data.
Their spending habits, daily routines, and even their actions are all recorded and even evaluated based on the biases of authorities.
This design is dangerous as it affects the rights of individuals to exercise their civil liberties. Companies should always make it a point to use and deploy AI systems with appropriate safeguards through privacy-enhancing technologies.
Ethical AI is the future of tomorrow
AI is the current reality. Nothing can be done to stop or prevent it from saturating the market. But businesses can ensure that its deployment and use remain ethical and human-centric.
Through proactive approaches and attitudes toward AI, it can be designed and programmed to benefit everyone without jeopardizing the privacy and civil liberties.
At the center of this development are the business leaders and key decision-makers. By espousing the values of transparency, accountability, and freedom, putting the individual at the center is possible.
