How do we weigh the risks posed by AI...
When it comes to finding responsible ways to develop and deploy AI, the stakes couldn’t be higher—particularly in light of the generative AI revolution. This is true for individuals, for society, and for the organizations that drive the use of AI technologies in our world today.
Organizations in a multitude of industries are realizing huge benefits from AI—benefits that are amplified when AI systems are developed responsibly. Organizations that lead in responsible AI build better products and services, experience accelerated innovation, and decrease the frequency and severity of system failures.
Even so, it’s not unreasonable to have reservations about AI. Workers fear replacement; consumers, a loss of privacy. Even business leaders are wary of the speed at which tools such as generative AI are developing. They remain uncertain about how these technologies will affect their organizations, and they wonder,
How do we weigh the risks posed by AI...
...against the risk of falling behind?
The risks of AI are indeed plentiful. Researchers have found racial, gender, and socioeconomic biases in multiple hiring and health care algorithms. AI system lapses have produced racial bias in image processing, faulty or inappropriate product recommendations, and gender bias in credit offers. And generative AI systems, however impressive their capabilities, have shown an unsettling tendency to output false or misleading information.
These are serious concerns. If AI is to fulfill its potential for bettering lives and improving equity and inclusion, we’ll need to harness the power of AI systems without causing harm or unintended consequences.
Meeting those challenges requires a careful examination of the ethics, governance, and organizational conditions that surround and enable the use of AI. It also demands collaborative, interdisciplinary ecosystems—composed of AI developers, UX designers, ethicists, business leaders, users, and others—to ensure the responsible development and deployment of the technology.
The arrival of generative AI only raises the stakes. It’s now more critical than ever to instill responsible AI practices throughout every organization.
To operationalize the responsible use of AI technology across their organizations, public and private sector leaders must build a strong foundation of responsible AI principles, mechanisms, and tools.
We are entering a period of generational change in artificial intelligence, and responsible AI practices must be woven into the fabric of every organization. For its part, BCG has instituted an AI Code of Conduct to help guide our AI efforts.
When developed responsibly, AI systems can achieve transformative business impact even as they work for the good of society.
ABOUT BOSTON CONSULTING GROUP
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
© Boston Consulting Group 2024. All rights reserved.
For information or permission to reprint, please contact BCG at firstname.lastname@example.org. To find the latest BCG content and register to receive e-alerts on this topic or others, please visit bcg.com. Follow Boston Consulting Group on Facebook and X (formerly Twitter).