... 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.

All companies will need to become “AI companies”

<ol><li>The whole organization must be engaged with the AI strategy, which involves a total organizational review and potential changes.</li><li>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.</li><li>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.</li></ol>

The three principles of 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.&nbsp;<ul><li>When it comes to reskilling and retaining employees, AI can be helpful to companies when deployed for screening and training employees for new positions.&nbsp;</li><li>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.</li><li>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.&nbsp;</li></ul>

Responsible AI and the employee experience

<ul><li>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.&nbsp;</li><li>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.</li><li>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.</li></ul>

Responsible AI for customers and stakeholders

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.

Responsible AI needs support at the top

Companies adopting the best practices of responsible AI extract benefits while mitigating AI’s risks.

Stashed ideas

Building an Organizational Approach to Responsible AI

Some studies show that people want to believe that the products they buy support their values. Other studies found the opposite and even dismissed the idea of the ethical consumer. However, a review of existing research on consumer morality identified weaknesses in how previous studies assessed morality. As a result, a recent study tested a new way of consumer morality and found that morality does matter but that consumers interpret morality differently from researchers.

Research on Consumer Morality

An attitude-based approach makes it possible to identify what consumers view as a moral decision or not. Research found that getting people to self-perceive their own attitudes about a product based on morality makes them more likely to purchase it. Furthermore, the more moral a person perceived a product to be, the more likely they were to consider buying it, regardless of how well the product was reviewed.

Disentangling Morality From Dislike

Consumers care about morality and reliably act on it. Positioning products in ways that support a consumer's sense of morality may potentially be an effective form of motivating consumer behaviour. Research shows that people hold morally based attitudes towards many unlikely products, such as refrigerators. Therefore, it is important to learn how different consumer segments differentially moralise the same products or attributes.

Marketing on Morality

New research shows that morality matters—but it’s in the eye of the beholder.

Yes, Consumers Care if Your Product Is Ethical

When a part of fortune is put to social cause which will improve lives of others for long run basis; you get something much valuable than fortune in return; it's 'Public Trust'.

An Investment For Generation.

| WINNER OF THE GAJA CAPITAL BUSINESS BOOK PRIZE 2019 | The nineteenth century was an exciting time of initiative and enterprise around the world. If John D. Rockefeller was creating unimagined wealth in the United States that he would put to the service of the nation, a Parsi family with humble roots was doing the same in India. In 1822, a boy was born in a priestly household in Gujarat's Navsari village. Young Nusserwanji knew early on that his destiny lay beyond his village and decided to head for Bombay to start a business - the first in his family to do so. He had neither higher education nor knowledge of business matters, just a burning passion to carve a path of his own. What Nusserwanji started as a cotton trading venture, his son Jamsetji, born in the same year as Rockefeller, grew into a multifaceted business, turning around sick textile mills, setting up an iron and steel company, envisioning a cutting-edge institute of higher learning, building a world-class hotel, and earning himself the title of the 'Bhishma Pitamah of Indian Industry'. Stewarded ably over the decades by Jamsetji's sons Dorabji and Ratanji, the charismatic and larger-than-life JRD, and thereafter the more business-like Ratan, the Tata group today is a 110-billion-dollar empire. The Tatas is their story. But it is more than just a history of the industrial house; it is an inspiring account of India in the making. It chronicles how each generation of the family invested not only in the expansion of its own business interests but also in nation building. Few know, for instance, that the first hydel power project in the world was conceived of and built by the Tatas. Nor that some radical labour concepts such as eight-hour work shifts were born in India, at the Tata mill in Nagpur. The Tata Cancer Research Centre, the Indian Institute of Science, the Tata Institute of Fundamental Research, as also the national carrier Air India - the family has a long, rich and unrivalled legacy. The Tatas is a tribute to a line of visionaries who have a special place in the hearts and minds of ordinary Indians. Written by seasoned journalist Girish Kuber, this is also the only book that tells the complete Tata story spanning almost two hundred years.

Welcome to Deepstash

The Tatas: How a Family Built a Business and a Nation

You can use cornmeal (in thick grain) as an exfoliant for the body. An ecological, economical alternative.Corn starch is also very useful for softening the skin.Try a drop of soap, once applied with cornmeal on the skin and rubbing, it will create an exfoliating lather that will amaze you. My skin needs it at least once a week. Naturally gluten-free!Seeing is believing!

Green Ideas

Greta Barrett on Sep 10

Bro-rowed"no matter how much money has, unable to compute more time" Lol no, emotion will arise.