The three principles of responsible AI - Deepstash

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The three principles of responsible AI

  1. The whole organization must be engaged with the AI strategy, which involves a total organizational review and potential changes.
  2. All employees need education and training to understand how AI is used in the company so that diverse teams can be created to manage AI design, development, and use. Additionally, employees should understand how the use of AI will impact their work and potentially help them do their jobs.
  3. Responsibility for AI products does not end at the point of sale: Companies must engage in proactive responsible AI audits for all ideas and products before development and deployment.

Responsible AI for customers and stakeholders

  • 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.

Responsible AI and the employee experience

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. 

Responsible AI needs support at the top

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.

All companies will need to become “AI companies”

All companies will need to become “AI companies”

... 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.

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