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’s full of potential, but bad incidents diminish public trust and draw attention from successes. Responsible AI – the practice of designing, developing, and deploying AI with good intentions in a way that fairly impacts society – is not just the morally right thing to do. It also yields tangible benefits by accelerating innovation and helping organizations transition into using AI to become more competitive. Navigating the AI landscape is challenging, and responsible AI helps.
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.
Most organizations have little knowledge regarding how AI systems make decisions, and as a result, they are unprepared to leverage the output.
Melody K. Smith
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