How do we harness the power of AI and reduce the associated risks?

The world of artificial intelligence (AI) is growing fast, and we must handle this technology with care. Ethics and rules are vital components. They help make sure AI is used in ways that are good for everyone and do not harm anyone. AI is popping up everywhere, so it is crucial to have a strong ethical backbone guiding its use. This means protecting people's privacy and keeping their data safe. It is not okay for AI to use someone's information without clear permission, or in ways they would not expect.

Also, it is important that AI does not become a black box. People should be able to understand how AI makes decisions. This helps build trust and makes sure AI is used fairly. Having clear rules is another big piece of the puzzle. These rules give everyone a playbook to follow, making sure AI is used responsibly.

In the absence of a robust AI policy, several substantial risks can have far-reaching implications. Primarily, the lack of clear guidelines and regulations around the creation, deployment and usage of AI technologies fosters an environment where unethical practices can proliferate. This could lead to issues such as the encroachment on privacy rights, the amplification of biases within AI algorithms resulting in discriminatory outcomes and the unchecked use of surveillance technologies.

To ensure greater accountability among AI developers and users, the European Union recently passed a sweeping law (the first of its kind) regulating corporations and business leaders concerning AI. The EU Artificial Intelligence Act seeks to impose legal and ethical standards on companies that develop and use AI. While the Act does not impose legal obligations on organizations that operate exclusively in the United States, it will serve as a potential model for AI restrictions that may one day be passed by the U.S. Congress and state legislatures.

We should not wait for U.S. legislators to establish federal or state regulations to develop our own organization’s AI policies. The risks of not implementing this policy are significant and multifaceted, affecting individual rights, data security and accountability.

Reach out today to AOE for help in creating your organization’s AI policy.