What is Responsible AI?

It seems like everyone knows the meaning of AI, but has no idea what responsible AI is. Therefore, we'd like to look into it to give a better idea of this concept. Responsible (ethical, trustworthy) AI is a set of principles and practices intended to govern the development, deployment, and use of artificial intelligence systems regulated by ethics and laws. This can ensure that the technology causes no harm to employees, businesses, and customers, allowing organizations to build trust and scale with confidence. Simply put, when companies use AI to improve their operations and drive business growth, they should first build a system with predefined guidelines, ethics and principles to regulate the technology. How is AI responsibly used in business? Companies ensure complete transparency and interpretability, using artificial intelligence to perform many tasks such as automation, personalization, data analysis, etc. Whenever a company applies this technology, it requires an explanation to users about whether and how their personal data will be processed. This is especially important in healthcare, where medical professionals use AI to make a diagnosis. They have to provide documentation, so people can be sure it is correct. Although the number of AI use cases in business is surging, their responsible use lags behind. Accordingly, companies are increasingly facing financial, regulatory, customer interaction and satisfaction issues. How critical is responsible AI software for business? We’ll find out in the next section.

What are the Benefits of AI in Business?

When implementing AI technologies, organizations must ensure careful management to prevent significant damage that may be unintended but is detrimental to brand reputation, employees and society in general. An infamous example of the irresponsible use of artificial intelligence is Amazon back in 2014, when the company deployed an AI-driven recruiting tool to put the burden of screening initial candidates on the shoulders of technology. This went thoroughly wrong, as the tool was trained on male applicant samples and had an unintended bias against women. So during the hiring process, the AI simply eliminated all female candidates. Even worse, it took Amazon a full year to realize the mistake. Let's go into detail and discover how beneficial the ethical use of artificial intelligence in business operations can be. By taking a responsible approach, companies receive more perks, such as: Avoid Bias As in the AI business case of Amazon, we see the damage that can be done by a system trained on data that contains biases. Responsible AI helps businesses build trust and ensure that algorithms do not produce false results. An examination of how the system works and what decisions it makes helps identify biases and avoid them in the future. Get Reliable AI Results To understand better the AI business impact, imagine applying this technology to processes in your company, but soon realizing that the results you get are not reliable. Artificial intelligence can process an immense amount of big data and make predictive analytics out of it. But before you accept these results as pure truth, you need to make sure they are verifiable by first checking the correctness of the AI work and only then letting it stand on its own. Reach Organizational Transparency Provide all information about the purpose, risks and expected outcomes of using artificial intelligence in business operations. In this way, you can improve your brand image among the public and stakeholders. Responsible use of AI also means that your employees know how to use data and derive insights from it. Protect Data Security & Privacy Companies using artificial intelligence should place a high value on customer data security and protection. The principles of responsible AI make sure organizations do not collect user information and images without their consent. Their actions should be in line not only with ethics but also with data protection regulations such as the GDPR (General Data Protection Regulation) to prevent misuse. Gain a Competitive Advantage The responsible artificial intelligence's impact on business assists organizations to be more competitive in the market. Since it allows you to collect and analyze secure business data, you make decisions based on reliable results. Moreover, AI is a great tool to automate everyday tasks (answering customer queries, categorizing documents, etc.) and to optimize a workload, improving the entire company’s performance.

Examples of Responsible Artificial Intelligence in Business

To use AI responsibly, companies must establish clear principles by which they will use it. Unfortunately, most firms that deploy artificial intelligence do not handle it responsibly. Only 12% are using AI in a mature way, which gives these brands a significant competitive advantage. Let's take a look at some notable responsible AI examples in businesses: IBM IBM is a good example of responsible AI use cases in business at work. One of its most important contributions to responsible AI is the IBM Watson Health division. It's part of the company's strategic business unit that aims to solve some of the most immense challenges in healthcare and life sciences. The organization uses artificial intelligence to help doctors make better decisions about patient treatment. How does it work? IBM Watson Health deploys artificial intelligence to analyze data from sources such as electronic health records, clinical entries and lab results. The program then provides insights that help medical professionals make better treatment decisions for their patients while optimizing the responsible use of AI. In addition, this data helps doctors learn from the experiences of others and improve their practices over time. H2O.ai H2O.ai gives an answer to the question "How to implement AI in business and act responsibly?" It uses artificial intelligence to solve real-world problems — from detecting health risks in water systems to predicting when a customer might churn on their credit card payments. By applying responsible AI, the company aims to make it easier for businesses of different sizes and industries to build trust with customers and offer safe products. The company's cloud-based H2O AI Cloud platform can be used to create, train and deploy machine learning models that are compliant with GDPR regulations. It enables organizations to analyze their data and ensure it is handled in compliance with privacy laws. This responsible AI technology has already been adopted by more than 37% of enterprises around the world that want to use artificial intelligence without breaking laws or regulations. Diveplane Founded by two Stanford Ph.D. students who were tired of seeing companies abuse artificial intelligence. They are building a platform that allows all businesses to harness the power of technology and use it to their advantage. Diveplane's technology enables companies to develop, train and deploy their own customized machine learning models. It can be used in any industry, including retail, finance, travel and more. The organization's mission is to create an environment where ambitious entrepreneurs can thrive, as they believe this will lead to breakthroughs in AI innovation that benefit everyone in the world. FAIRLY FAIRLY helps organizations analyze artificial intelligence algorithms and develop more ethical, responsible, and compliant AI systems. To achieve this, they provide tools that provide a better understanding of how their AI systems work and identify potential biases and unfairness to adjust models accordingly. FAIRLY provides a set of APIs for training, testing and evaluating machine learning models for fairness evaluation in the cloud. A recent report from the Center for Data Innovation found that only 20% of companies have policies in place for AI system development. The vast majority — 80%— have none. FAIRLY provides a set of best practices for building responsible AI systems, including: Trained data scientists must analyze and monitor new AI models before deployment; Test AI systems with real-world datasets to ensure they perform as expected; Remove biased data from training sets when discovered. Fiddler Fiddler aims to bring transparency to machine learning so that businesses can make more informed decisions about their data and its usage. The organization enables firms to build trustworthy AI business solutions by making it easy to understand how algorithms work, how to interpret them and how to explain them to others. By building transparency into the core of its platform, Fiddler helps enterprises gain the trust of their customers, employees and partners. The company's Explainable AI Platform makes it easy to gain insights from machine learning models and visually explore data and models to understand why they make certain decisions, gain confidence in them and use the software more effectively in business.

Artificial Intelligence

Don’t miss a thing about one of the most promising areas in the world of tech. Machines’ ability to simulate human intelligence and perform certain tasks that usually require human efforts affects businesses and everyday lives. Our AI blog provides the most relevant and accurate AI technology news and trends.

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Artificial Intelligence

Responsible AI: Key Principles to Consider While Leveraging Artificial Intelligence In Your Business

7 Use Cases for Machine Learning to Automate Healthcare Industry

Artificial Intelligence in Business: Transformation Through the Years

GPT-3: Everything You Need to Know About a New AI Rockstar

How Is Artificial Intelligence Transforming Telemedicine?

6 Curious Facts About Artificial Intelligence You Might Want to Know

How Artificial Intelligence is Transforming the World

An Introduction to Machine Learning Algorithms

Subscribe to our blog updates

Artificial Intelligence

Categories

Subscribe to our blog updates