Ray Eitel-Porter at AI and Ethics: “Artificial Intelligence (AI) applications can and do have unintended negative consequences for businesses if not implemented with care. Specifically, faulty or biased AI applications risk compliance and governance breaches and damage to the corporate brand. These issues commonly arise from a number of pitfalls associated with AI development, which include rushed development, a lack of technical understanding, and improper quality assurance, among other factors. To mitigate these risks, a growing number of organisations are working on ethical AI principles and frameworks. However, ethical AI principles alone are not sufficient for ensuring responsible AI use in enterprises. Businesses also require strong, mandated governance controls including tools for managing processes and creating associated audit trails to enforce their principles. Businesses that implement strong governance frameworks, overseen by an ethics board and strengthened with appropriate training, will reduce the risks associated with AI. When applied to AI modelling, the governance will also make it easier for businesses to bring their AI deployments to scale….(More)”.
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