Machine learning along with artificial intelligence is changing how companies do business in a big way. From data collection to chatbots and everything in between, these innovations are streamlining how businesses operate. But what about ethics policy management? There have been plenty of recent headlines discussing the challenges AI technology brings into the ethics conversation. But can these smart-tech solutions be an ally in how your company defines, manages, and oversees company ethics policies?
Ethics Benefits of Artificial Intelligence
There are benefits associated with artificial intelligence and ethics. For example, AI can be leveraged to detect and reduce unfair biases like gender, race, and nationality in onboarding processes. AI systems can be developed, too, with moral principles built in for data security and improved data privacy. With the right ethics designed right into the tech, AI applications can be incredibly helpful to companies in managing and maintaining proper ethics enforcement.
Adopting Ethical AI
Before your company explores new innovations in AI and machine learning, consider creating a rulebook for the ethics your AI will have. The ethics policies your company enforces will continue to foster an environment of trust and loyalty, not only among your staff but also with your customers. The Capgemini Research Institute shared results from a survey it conducted with more than 1,500 executives across 500+ companies regarding ethics in AI. Here are some of the resulting stats:
· Companies using ethical AI improvements are enjoying a 44-point NPS advantage
· 62% of consumers surveyed indicated they would place a higher trust in a company with ethical AI
· 61% of consumers said they would share positive ethical AI experiences with their family and friends
· 51% of executives recognize the importance of ethics and transparency in their company’s AI solutions
· Nine out of ten companies believe ethical issues have resulted in the use of unethical AI regarding data collection, personal or patient-related data, and banking or insurance-related data
How to Improve Ethics with AI
As your company looks to explore more AI and machine learning solutions, make sure you also include your managers responsible for your ethics policies. Your IT and HR teams can collaborate in any new AI initiatives to ensure that newly adopted solutions are also in line with existing ethics policies and regulations. There can also be accountability and governance processes in place for ongoing oversight of new AI regarding data collection, consumer engagement, and employee experiences.
The Ethics Hotline Solution
Another ethics policy tool in your toolbox that can be helpful in managing your operations and AI is the ethics hotline. With an ethics hotline, your teams, vendors, and customers all have an anonymous platform for reporting ethics violations, including any that result from AI and machine learning. It’s a viable method for oversight of any new technology your company adopts, ensuring you continue to operate within your ethics parameters.
As you explore new tech innovations, including AI and machine learning solutions, be mindful of the ethics component. And let Ethical Advocate help you set up your ethics hotline so you can leverage the many reporting benefits of having an anonymous channel for reporting.