Unlocking the potential of AI through trust

Change of paradigm, a tool or a threat to humanity? The true societal impact of Artificial Intelligence (AI) systems is yet to be fully realised. However, many already see AI as an engine for productivity and economic growth.

As organisations compete to be the first to unlock and realise the full potential of AI for their organisations, governments and regulators across the world have started the hard task of putting legislation and regulatory frameworks around a technology that is constantly evolving.

While there is still a lot of uncertainty around the risks due to AI technologies, there needs to be some caution displayed to truly understand these, particularly where risks and harms to individuals may arise. In addition, privacy and security concerns are still the leading causes that are limiting investments in AI-based solutions.

However, with the current buzz around AI, even an organisation that is not currently considering it will be inclined to do so as the technologies evolve and mature. From this perspective, it is important to start thinking about AI use cases for your business and be ready to implement such solutions in a manner that builds customer confidence and aligns with the regulatory requirements. There is no doubt that companies that have an issue with how and where they deploy AI technologies will suffer from significant reputational damage.

In this article, we will look at the AI risk landscape and how risk mitigation can be achieved through taking a trustworthy AI approach.