AI Altering Business Practices
There’s no question that AI is the next technological advancement that will fundamentally alter our way of life in the very near future, and perhaps for evermore. In fact, it already is and continues to do so. But in these early and heady AI days, there are practicality speed bumps, too.
For example, corporate executives and boards are encountering implementation and control roadblocks that are preventing their organizations from realizing more than just a fraction of AI potential, not to mention justifying the millions of dollars in spending that an enterprise-level AI deployment costs in streamlining their operations, optimizing workflow, harmonizing siloed divisions, and other organizational challenges that enterprise-level organizations struggle to handle well.
But that’s just the beginning of the challenges and risks that AI poses to even mid-size businesses as well as enterprise-level organizations.
The Risk to Privacy and Ethics
The promise of AI lies not only in its speed of data analytics but in its utter power to quickly access—and potentially abuse access—to personal information. Individuals’ private data are shielded by their legal right to privacy, and the responsibility to protect that privacy falls upon organizations that possess private data. If an AI-driven program or product is abused or even just not monitored, the risk of an enterprise finding itself in violation of privacy laws rises.
There’s also the risk of bias perpetuation and the resulting social impact of any biases that are baked into the AI program. These may well include the personal beliefs of the AI programmer or servicer, with outcomes that harm certain people with personal beliefs that are counter to those that are in the AI programming.
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