Building an Organizational Approach to Responsible AI
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... so they can leverage the considerable benefits to be gained through greater knowledge of their customers, explore new markets, and counteract new, AI-driven companies that might seek their market share.
To extract the benefits from AI while mitigating the risks, companies must ensure that they are sufficiently agile so they can adopt best practices to create responsible transformation with 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.
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.
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