As CEO of BH Compliance, Susana Sierra emphasizes the importance of understanding and managing the risks associated with the ever-expanding use of artificial intelligence (AI) in companies. While AI offers significant benefits in terms of efficiency and productivity, it also poses risks such as hacking, data leaks, and misinformation, which need to be managed ethically by company leaders.
The Edelman Trust Barometer 2024 revealed that companies are the most trusted institutions, but there is still a lack of trust in the safe and accessible introduction of new technologies, including AI. Respondents expressed concerns about the management of innovation, government regulation, and the independence of science from politics and money. This highlights the need for companies to promote and regulate the use of AI under ethical standards to rebuild and maintain trust.
At the World Economic Forum annual meeting in Davos, AI was a central topic of discussion under the theme of “Rebuilding Trust.” Experts emphasized the importance of using AI conscientiously and placing people at the center of its application. While there is optimism about the potential of AI tools, there is also a recognition of the need for ethical regulation and responsible use of AI to prevent negative outcomes.
Some companies have chosen to limit or prohibit the use of AI due to concerns about security breaches and the impact on critical thinking skills. However, the transformative potential of AI will eventually affect all industries, making it necessary for companies to address and manage these challenges. Steps to promote ethical AI use include understanding its capabilities, implementing it correctly, modeling responsible leadership, establishing preventive controls, effective communication, and training and selecting personnel with the necessary skills.
Overall, it is crucial for companies to adapt to the technological revolution brought about by AI by understanding its implications, implementing ethical policies, and fostering communication and transparency with stakeholders. By staying informed and proactive in how AI is integrated into business strategy, companies can navigate the challenges and opportunities presented by artificial intelligence while rebuilding trust and credibility in the eyes of their employees and the public. Public-private cooperation and collaboration will be key in addressing the ethical and regulatory challenges posed by AI and ensuring its responsible and beneficial use in the future.
