From the MIT Sloan Management Review
As artificial intelligence-enabled products and services enter our everyday consumer and business lives, there’s a big gap between how AI can be used and how it should be used. Until the regulatory environment catches up with technology (if it ever does), leaders of all companies are on the hook for making ethical decisions about their use of AI applications and products.
Ethical issues with AI can have a broad impact. They can affect the company’s brand and reputation, as well as the lives of employees, customers, and other stakeholders. One might argue that it’s still early to address AI ethical issues, but our surveys and others suggest that about 30% of large companies in the U.S. have undertaken multiple AI projects with smaller percentages outside the U.S., and there are now more than 2,000 AI startups. These companies are already building and deploying AI applications that could have ethical effects.
Many executives are beginning to realize the ethical dimension of AI. A 2018 survey by Deloitte of 1,400 U.S. executives knowledgeable about AI found that 32% ranked ethical issues as one of the top three risks of AI. However, most organizations don’t yet have specific approaches to deal with AI ethics. We’ve identified seven actions that leaders of AI-oriented companies — regardless of their industry — should consider taking as they walk the fine line between can and should.