Artificial intelligence (AI) and machine learning (ML) have lately been radically improved and are now being employed in almost every application domain to develop automated or semi-automated systems. To ease greater human acceptability of these systems, explainable artificial intelligence has experienced significant growth over the last couple of years with the development of vastly accurate models.
Rahul Joshi, CTO, CSS Corp, stated, “AI is enhancing millions of lives and is changing how businesses work in myriad ways. According to Forrester, one in five organizations will double-down on “AI inside” to boost real-time readiness. AI inside will be embedded at the core of everything from architecture to operations — to bridge the business-to-customer divide. The intelligent process automation market is expected to grow to $21.7 billion at a CAGR of 12.4% from 2021 to 2028, increasing the proliferation of AI inside. Similarly, in 2022, we will witness a high demand for responsible AI solutions in the market. Responsible AI solutions offer a range of capabilities that help companies turn AI principles such as fairness and transparency into consistent practices.
If we look at the industry today, most tech or non-tech organizations generate consumer benefits and business value by leveraging 70 to 80% AI-led operations and creating AI-infused products and applications. While AI can be a helpful tool to increase productivity and reduce the need for people to perform repetitive tasks, it can also give rise to a host of significant unintended (or maliciously intended) consequences for individuals, organizations, and society. For instance, there are well-known examples where the algorithms cause problems by replicating the (often unconscious) biases of the developers/programmers who built them. So, it’s crucial to ensure that comprehensive datasets are used. Most organizations have bias bounties in place, and this trend will run rampant in the coming years.
To ensure that no company is marred with data or AI ethics enrage that can impact its reputation and revenue, it’s imperative to build an ethical & responsible AI. Some best practices to navigate dilemmas concerning AI are inculcating transparency, ethical data mining, inclusivity, accountability, and explainability.
Today, companies that look at AI as a strategic imperative will go a long way. At CSS Corp, we have started to emphasize the importance of data and AI ethics in the past few years, as we understand that AI is here to stay whether we’re ready or not.”