Responsible Business Intelligence - An Emerging Paradigm?
Responsible Business Intelligence (RBI) is an emerging concept that integrates responsible business practices with the application of Business Intelligence (BI) and Artificial Intelligence (AI) technologies. With the continual advance of AI's capabilities, business leaders find themselves flooded with new opportunities and responsibilities for how BI can and should be used to grow business. RBI presents a new paradigm where these growth opportunities can be realised responsibly, to the benefit of all business stakeholders.
Context of Responsible AI
As discussed in a previous newsletter , RBI is closely aligned with the broader concept of Responsible AI. It focuses on how businesses develop and implement AI-driven BI solutions in ways that adhere to ethical principles and societal values. This includes ensuring that AI applications in BI are transparent, accountable, and unbiased.
Context of Responsible Stakeholder Intelligence
In next week's newsletter, I will consider Responsible Stakeholder Intelligence, which sits across all applications of RBI - where responsible businesses are oriented to partner with and serve the interests of all of their stakeholders, including employees, customers, suppliers, shareholders, governments and regulatory bodies, academia and think tanks, trade & industry associations, trade & labour unions, community and NGO groups, and society at large.
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Applications of Responsible BI
This week, I am focusing on a number of applications of Responsible BI, considering how RBI extends beyond the technical aspects of BI and AI. RBI encompasses the business models and strategies companies develop, using AI-powered BI solutions, where both the risks and merits of using these technologies are taken into account. Typical examples include:
There are risks and merits to all applications of Responsible BI, but given the rate of advancement of AI technologies, the alternatives to Responsible BI are not good. Standing still, using old technologies is not an option. Lurching forward, irrespective of the risks, is undoubtedly a mistake. Responsible Business Intelligence is an emerging paradigm. The real question is, how can we ensure RBI is deployed for best benefit of all stakeholders?