10 key facts about using AI in organizations
WHEN the hype about ChatGPT and artificial intelligence ( AI), many are impatient to take advantage of the potential of increasingly sophisticated technology.
However, findings from Baker McKenzie’s 2022 North America AI survey suggest that currently business leaders may not appreciate AI-related risks to their organizations.
Here are 10 important facts about the use of artificial intelligence (AI) in organizations.
1. According to Baker McKenzie’s 2022 North America AI probing review , only 4% of respondents in the C-suite ranking consider the risks of using AI to be “significant”.
2. Less than half of the respondents surveyed stated that there is expertise in the field of AI at the Board of Directors level.
3. 75% of companies use AI tools and technology for recruitment and human resources purposes.
4. Unregulated use of AI can produce biased and discriminatory outcomes, exacerbate problems of inequity and hinder the advancement of workforce diversity.
5. Data privacy and data dissemination are also concerns, especially through the collection of non-anonymous employee data.
6. The use of generative AI has led to new intellectual property considerations, raising questions about ownership of inputs and outputs from third-party programs and possible copyright infringements.
7. Governments and regulators are working to implement AI-related laws and their oversight and enforcement mechanisms.
8. In this high-risk environment, the Chief Artificial Intelligence Officer (CAIO) plays an important role in ensuring oversight and management of relevant risks at the C-Suite level.
9. Companies using AI need to develop a framework that identifies approaches to assess bias and mechanisms to test and prevent bias that violates the law.
10. To mitigate AI-related risks, companies need to have a strong oversight and governance structure to accelerate the safe adoption of the technology.
