Artificial intelligence (AI) can be transformative for businesses, but the increased use of the technology inevitably leads to a higher rate of AI system failures. The World Economic Forum brought this interesting information to our attention in their article, “Scaling AI: Here’s why you should first invest in responsible AI.”
AI has reshaped industries and society. It holds incredible promises, but unfortunately incidents diminish public trust and draw attention from successes. Responsible AI – the practice of designing, developing and deploying AI with good intentions and that fairly impacts society – is not just be the morally right thing to do, it also yields tangible benefits in accelerating innovation and helping organizations transition into using AI to become more competitive. Navigating the responsible AI landscape is challenging.
AI can be used for anything from insurance underwriting to detecting cancer. The defining characteristic is that there is limited to no human input into the decisions made by the system. This can lead to many potential issues and companies need to define a clear approach to using AI.
Add to that, most organizations have little knowledge on how AI systems make the decisions they do, and as a result, how the results are being applied in the various fields that AI and machine learning are being applied.
Melody K. Smith
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