Data equity refers to the fair and just distribution of data resources and benefits across individuals and groups within a society or organization. It is based on the principle that data should be accessible, inclusive, and unbiased, and that the benefits derived from data should be shared equitably among all stakeholders. FCW brought this interesting information to our attention in their article, “White House efforts to get data equity-ready will also support AI, official says.”
Among other important facets, data equity involves establishing clear data governance frameworks and ethical guidelines. Businesses should define policies and practices that promote responsible data collection, usage, and sharing. Transparent and ethical data practices help prevent discriminatory or harmful outcomes and maintain fairness in data-related activities.
Embracing data equity can have a positive impact on businesses, driving innovation, improving decision-making, building trust, mitigating risks, and promoting diversity and inclusion.
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Melody K. Smith
Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.