Building an Organizational Approach to Responsible AI

Organizations must recognize the drawbacks that some algorithms bring into the screening and hiring process as a result of the way they are trained, which can have a direct impact on outcomes such as diversity and inclusion. 

• When it comes to reskilling and retaining employees, AI can be helpful to companies when deployed for screening and training employees for new positions. 
• Many employees have skills that can be built upon to cross into a new position, but companies often don’t realize the full extent of their employees’ capabilities.
• For companies seeking to attract and retain employees with AI skills, it helps to develop responsible AI policies, because many of the most talented AI designers and developers value their company’s positions on ethics and transparency in their work. 

• It’s more important than ever that companies develop a strategy around responsible AI and communicate it well to internal and external stakeholders in order to maintain accountability. 
• Companies should also keep in mind that a one-size-fits-all approach does not always work with emerging technology; instead, they need to match the right AI solution to the right customers and create business offerings that align with customer needs.
• Startups with responsible AI strategies will be more valuable. The purchase of a responsible AI startup may depend on the startup’s approval of the acquirer’s apprcoach. Investors may refuse to buy stock in companies that don’t have responsible AI. Indeed, there may be an increase in activist investors in this space.

To gain traction throughout an organization, support for responsible AI needs to come from its leadership. Unfortunately, many board members and executive teams lack an understanding of AI.

The World Economic Forum created a toolkit for boards to learn about the different oversight responsibilities in companies involved with AI. They can use it to understand how responsible AI can be adopted across different areas of the business — including branding, competitive and customer strategies, cybersecurity, governance, operations, human resources, and corporate social responsibility — and prevent ethical issues from taking hold.