Responsible AI: A Growing Priority for Businesses

A recent survey of customers by Amazon Web Services (AWS) and Morning Consult found that nearly half of the respondents planned to increase their investments in responsible AI in 2024[1]. This growing interest in responsible AI is driven by several factors, including the need to establish trust in AI-leveraged products and experiences, protect people's data, and ensure long-term innovation.

Companies that use AI responsibly are likely to be rewarded over time, while those with poor AI reputations may face challenges. Data privacy is a significant concern heightened by AI, and establishing trust in products and experiences that leverage AI could promote growth[2]. However, many organizations are not investing enough in responsible AI, despite the increasing awareness of AI's risks[3].

Ethical AI is becoming a priority for businesses investing in AI, as it ensures better protection of people's data and can be beneficial for long-term innovation. Responsible usage includes setting standards for AI and following them ethically. For example, Salesforce was the first company to publish principles for developing generative AI.

AI safety ensures no harm is caused to people and the planet. Breaches include generating and releasing false or distorted information, sharing private information, amplifying biases, and displacing jobs. To address these concerns, companies should adopt a set of guiding principles for employees to follow when interacting with AI systems and analyzing the data used to train them.

According to Diya Wynn, AWS's responsible AI lead, there are several paths a company can take to make responsible AI a priority. One is to weave technology and trust into its business mission. Another is to seek remedies after experiencing public scrutiny over an AI system. A third bucket of companies recognizes the demand for responsible AI but is unsure how to proceed.[4]

As AI continues to advance and its impact on businesses and society grows, it will become increasingly crucial for organizations to prioritize responsible AI. By investing in ethical AI practices and ensuring AI safety, businesses can harness the power of AI to drive innovation while protecting people's data - and the planet.

Sources:

[1]https://sloanreview.mit.edu/article/is-your-organization-investing-enough-in-responsible-ai-probably-not-says-our-data/

[2] https://contenthacker.com/ai-safety-and-responsibility/

[3] https://www.isaca.org/resources/news-and-trends/isaca-now-blog/2021/beware-the-privacy-violations-in-artificial-intelligence-applications

[4] https://www.emergingtechbrew.com/stories/2023/11/30/aws-morning-consult-responsible-ai