Defining Industry Responsibility for AI-Based Technology: Friend or Foe?

Artificial intelligence (AI) is like a comet, streaking across the sky with its promise of more intelligence, automation, and ease of life. But with great power comes great responsibility. Are we enabling a technology that will one day overpower humans and command life as we know it? 

AI-based tools like ChatGPT and DALL-E have dazzled us with their dynamic capabilities, but also unnerved us with their staggering potential. The current debate on AI is hinged on broad philosophical questions and the public’s response. What do people make of all this?

As corporations and organizations increasingly embrace AI to spark innovation, improve productivity, and drive profits, a new question arises
The rise of artificial intelligence (AI) over the last decade has had a profound effect on the way we live and do business. AI has become a powerful tool for businesses across a range of industries, from automotive to healthcare. But with such powerful technology—what responsibility lies with the industry to ensure it is being used responsibly?

AI-based technologies have the potential to revolutionize industries and enhance operations for businesses of all sizes. But with the immense power of the technology, the risks must be addressed. Companies must pay close attention to the potential pitfalls and ensure the systems they employ are secure, compliant and ethical.

Industry bodies are now recognizing the need for clear guidance on ethical use of AI technologies. Organizations, such as the Institute of Electrical and Electronics Engineers (IEEE) and the UK’s Centre for Data Ethics and Innovation (CDEI), are developing AI guidance documents to help businesses make responsible decisions. They are providing frameworks that companies can follow to ensure their use of AI is compliant, transparent and ethical.

In terms of responsibility, industry must look closely at the potential benefits and risks associated with their use of AI technologies. Not only must businesses ensure their systems are technically sound, they must also take into account the potential implications of their use. Companies should be diligent in examining the potential use cases for their AI systems and take steps to ensure they are being used in a manner that is responsible and in line with the expected use cases.

Industry also has a responsibility to ensure that any associated policies or processes are developed in a transparent manner. The correct policies must be established in close collaboration with a range of stakeholders, and these policies must be carefully monitored and updated periodically to keep up with advances in technology and potential changes in the legal landscape.

With the rise of AI technology, industry has the responsibility to ensure that the technology is used responsibly and ethically. By working closely with regulators, industry bodies, and other stakeholders, businesses can ensure they are developing and implementing compliant and ethical AI-based technology. This, in turn, will ensure greater trust in the technology and foster a responsible business culture.