Why responsible AI is a business imperative

In this article: 

• The ethical challenges and risks associated with the rapid development and deployment of AI technology are given.
• It highlights how the enthusiasm and hype around AI can lead to exaggerated expectations and distortions, which can in turn disrupt the decision-making process and negatively impact the long-term valuation of businesses.
• The document outlines nine broad ethical principles for making and using AI, including compliance with human rights, promotion of human values, professional responsibility, human control of technology, fairness and non-discrimination, transparency and explainability, safety and security, accountability, and privacy.
• It also presents a five-step “Ethical Compliance Model” that corporate leadership can use to ensure compliance with these ethical principles throughout the AI development and deployment lifecycle.
• The document emphasizes the importance of ethical governance in the face of the rapid evolution of AI technology and the potential legal and reputational risks associated with its misuse.