bankingciooutlook

Competitive Edge and Ethics in Artificial Intelligence

By Banking CIO Outlook | Thursday, February 07, 2019

Artificial IntelligenceHumans are worried if AI will take over the world. But there’s another angle to this story. Humans tend to be fearful of things they find difficult to understand. So if technologies are advancing and are surpassing human expectation and caliber, they get surrounded with a mystery.

AI is here to stay and disrupt industries. Corporate leaders recognize the benefits and challenges of this technology. Although AI is being talked about while keeping an optimistic view but there are a few complexities that one needs to overcome. There are a few ethics in Artificial Intelligence which requires greater attention.

•  Potential Ethics

Although AI has a lot to offer in domains like healthcare, education, manufacturing, and finance there are a few potential ethical issues that one needs to consider. A customer may prefer one product over another, but that’s not something to be understood in depth. Decisions like mortgage eligibility require careful assessment by the lender and a transparency process before concluding.

AI can be used to predict criminal recidivism and can also decide whether a patient should be given a drug or not and also in what quantity. For taking decisions on such issues, it’s vital that the behavior of AI is adequately understood and potential mistakes are avoided.

•  Building ethics

Especially for businesses, AI must be constructed in a manner that is user-friendly. While choosing solutions to implement, it’s necessary that leaders introspect that whether a technology allows for human insights to be built in, thereby paving the way for common sense outcomes.

Check out: Top Artificial Intelligence Solution Providers (bugurooPayrailzPegasus Knowledge SolutionsRezilyens).

Moreover, revolutionary products are emerging which enables users to specify upfront rules regarding the behavior of predictive models which assures the common sense outcomes. For instance, it is necessary for businesses to explain to its customers that it considers that credit risk increase as salary levels decreases. 

Many would consider that AI is an independent force. But on the contrary, AI is a transformative technology which is helping enterprises to boost its success rate. AI-enabled products have witness exponential market growth and will tend to rise in the coming future knowingly or unknowingly.

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