Artificial Intelligence Toolkit Helps Companies Protect Society And Their Business
Company and boards of directors are the one who responsible for navigating the current period of unprecedented technological advancement and its attendant societal effects. Davos said that the global spend on artificial intelligence is expected to double the annual growth rates of major economies in the next 15 years. Companies will play a significant role in how AI impacts society said Kay Firth-Butterfield (Head of Artificial Intelligence at the World Economic Forum). Their research found that many executives and investors do not understand the full scope of what AI can do for them and what parameters they can set to ensure the use of the technology is ethical and responsible. AI is one of the biggest game changers for businesses, governments and society as a whole, and a huge source of opportunities to solve some of our most important challenges, said Elena Alfaro (Global Head of Data and Open Innovation). Jesus Mantas, Senior Managing Partner at IBM and board member at Biogen Inc said that “Board directors have a duty to provide oversight to the enhancements required to integrity principles, ‘human in the loop’ policies, and risk management frameworks to include the effect of AI algorithms becoming the norm in every operational aspect of corporations. The AI Toolkit is a great way for directors to better understand their enhanced responsibilities. Nabil Al Nuaim, Chief Digital Officer of Saudi Aramco said “It’s a necessity to inform boards of directors of AI and its overarching effects. Using AI responsibly is one of the core tenants of our digital transformation program and we’re keen in partnering with Centre for the Fourth Industrial Revolution Network to expand the toolkit to guide c-suite level executives in their journey to plan, implement, and monitor AI in their respective companies”. “As business races to capture the opportunities associated with AI and AI-driven tools, management and boards are charged with understanding and overseeing these transformative technologies and their impact,” said Karen Silverman, a Partner at Latham & Watkins LLP. Overall, AI is become more important this day, every companies will tried their best to develop AI in their company so their company can growth and get along with this era.