Artificial intelligence is here, and it is transforming the world in ways we are only beginning to grasp. As businesses incorporate generative AI into their operations, many will find themselves in an uncharted frontier—a landscape filled with potential but also fraught with political, legal and reputational challenges.
AI's rapid evolution has drawn the attention of Congress, foreign governments and the European Union regarding concerns about AI advancing at such a pace that they can't keep up. This can leave businesses that rely on AI in a potentially precarious position. As someone who helps companies navigate risks, I believe that while regulators might try to narrowly regulate the technology, the rush to regulate could stifle the opportunity for AI to boost productivity. Yet, in the absence of defined rules and guardrails, businesses must make complicated ethical, privacy and other contentious decisions on their own.
Policy And Legal Questions Businesses Should Consider Before Adopting AI
Bias And Discrimination
One concern about AI is its potential to unintentionally perpetuate and amplify human bias and lead to discrimination. The Biden Administration incorporated discrimination protection into their proposed AI Bill of Rights, which puts the onus on businesses to ensure they have rigorous processes in place to detect and eliminate bias in AI system outputs. In addition, the Consumer Financial Protection Bureau, U.S. Justice Department, Equal Employment Opportunity Commission and Federal Trade Commission recently asserted their intent to fight AI bias with existing authorities.Continue reading: https://www.forbes.com/sites/forbes...n-and-the-future-of-business/?sh=1a623f6237f1