Building AI and data ethics programs in line with environmental, social, and governance values
AI possesses the ability to make and inform significant decisions that impact individuals lives, businesses, and society at large. The endless benefits of AI inevitably come with an array of potential risks not previously addressed by industry, society, or of course, legislatures. With ever-growing awareness however, the public and regulators alike have begun to scrutinize the predictive processes of this innovative technology and their potential impacts.
As the applicable legal and regulatory landscapes evolve, with the EU AI Act at the forefront of such legal developments, and as society’s expectations increase, it is without doubt that businesses will need to address and implement ethical considerations when developing, deploying, and using AI systems. Put simply, ethical and responsible AI will no longer be a “nice to have” but instead the non-negotiable end game.
So what should businesses do ‘now’? To succeed in the era of digital transformation, businesses must begin to implement governance programs that create a strong foundation for current and future AI development and deployment, charting a careful path that both enables innovation and mitigates risks. In doing so, companies should take into account their environmental, social, and governance (ESG) initiatives, and build out comprehensive AI and data ethics programs, embedding fairness, transparency, accountability, sustainability, and safety through every stage, from top leadership to ground operations.
Implementing appropriate data governance and effective human oversight are essential components in ensuring ethical and responsible use of AI within an organization. Clear lines of reporting and management structures, appropriate policies and procedures, ongoing training, thorough impact and risk assessments, regular audits, and ensuring that no aspect of an organization operates in silo when it comes to the use of AI are also all key in the development of a robust governance ecosystem. Doing so will, in turn, create a future-looking company culture grounded on ethical values and responsible innovation.
As ever, companies need to monitor not only developing legal requirements and codes of conduct, but will – for some time – also need to make determinations on ethical and responsible AI compliance structures even in circumstances where there are gaps in legislation and regulation. This will reduce business risks and at least, keep pace with societal expectations, which can vary significantly between developed and developing countries. In developing countries where regulatory frameworks may take longer to be established, this vigilance is particularly important to ensure responsible practices.