What does AI mean for a responsible business?
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a short summary to Sarah Murray's article for FT Special Report on AI
The launch of OpenAI’s ChatGPT in late 2022 marked a significant moment in AI development, with its advanced content creation and query-answering capabilities capturing public interest. However, this breakthrough also raised concerns about misinformation, AI “hallucinations,” data breaches, bias in hiring, and job losses. Alexandra Reeve Givens of the Center for Democracy & Technology emphasizes the importance of businesses responsibly integrating AI without societal or business risks.
A survey of FT Moral Money readers highlighted consumer #trust loss and legal challenges as major risks from irresponsible AI use. Ken Chenault, former CEO of American Express, stresses the need for trustworthy AI, requiring constant monitoring and testing due to its evolving nature.
AI's high energy consumption and potential ethical issues could hinder progress towards UN Sustainable Development Goals (SDGs), though it also offers significant benefits in areas like sustainable food production and renewable energy. AI's ability to analyze vast data sets quickly can drive positive impacts, such as optimizing building systems and advancing drug development.
However, AI’s inaccuracies can lead to serious errors, particularly in critical industries like nuclear power or aviation, and introduce bias in decisions related to hiring, law enforcement, and lending. In healthcare, data breaches are a concern. Despite these risks, AI can enhance climate goals by improving electric grid efficiency and mapping deforestation in real-time.
The key challenge for businesses is balancing rapid AI advancement with caution. Companies must thoroughly test AI models, implement risk mitigation policies, and ensure secure data structures and employee training. Dunstan Allison-Hope of BSR recommends using UN Guiding Principles on Business and Human Rights to assess AI’s impact. Notably, 35% of surveyed organizations lack ethical AI guidelines, highlighting the need for widespread governance structures.
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Source: FT special report - Future of AI
The emergence of artificial intelligence is having an increasing impact on all facets of life and business. This report looks at how AI is being used to create new jobs and impact lives across industries including energy, education, financial services, healthcare, manufacturing and media.
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Director
8 个月Well not necessarily AI recquired for a responsible business , A business gets responsible from many other factors which r more imp ! How ever Ai can be a shift of Automation , in some dept s of business on the need base! And also after use case scenario.