Report addresses commercial AI adoption

23/06/2023 | World Economic Forum

A new report from the World Economic Forum addresses the commercial adoption of artificial intelligence (AI). The report, Adopting AI Responsibly: Guidelines for Procurement of AI Solutions by the Private Sector, provides a framework for evaluating the implications of acquiring AI solutions, emphasising transparency, accountability, and human-centred design from development to implementation. It offers guidance on assessing potential solutions for bias, privacy, and security, along with integrating ethical principles into procurement criteria and processes, while overlaying all these steps with strong governance criteria. 

In related news, Forbes reports that a recent survey by Workday involving 1,000 executives from around the world revealed that most business leaders believe humans' oversight of AI or machine learning is important for significant decisions. The survey, which was conducted in April and May of this year, also reveals that 77% of executives are concerned about the timeliness or reliability of the underlying data that will potentially feed their AI systems. Additionally, only 29% of executives said they are “very confident” that AI and machine learning are being applied ethically in business.

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