• About
  • Subscribe
  • Contact
Sunday, April 2, 2023
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result

PodChats for FutureCIO: Bridging AI’s trust gap

Allan Tan by Allan Tan
October 21, 2020
PodChats for FutureCIO: Bridging AI’s trust gap

PodChats for FutureCIO: Bridging AI’s trust gap

John McCarthy, credited as the Father of Artificial Intelligence, defined it as “The science and engineering of making intelligent machines, especially intelligent computer programs.”

However, through decades of romanticizing the technology by way of movies and novels, the lines have blurred between what we aspire it to be and what is possible today.

That said, with recent advances in machine learning, natural language processing and problem-solving, have these technologies sufficiently matured to warrant concerns among consumers and governments?

For example, COVID-19 and the ensuing track and trace methods used by some governments may be raising concerns about the ethical boundaries that organisations need to take to protect public health and safety.

It should be noted that as enterprises return to work, some are also opting to implement measures to monitor staff movement – in and around the work environment.

Watch this YouTube video detailing how an AI algorithm works on a banking use case. One of the key striking points in the video is a dependence of the AI on the data model. At least for now, it lives up to the adage: garbage in, garbage out.

EY published a report titled Bridging AI’s trust gap – based on a survey conducted between late 2019 and early 2020 covering 71 policymakers, 284 companies across 55 countries.

FutureCIO spoke to Wai Keat Cheang, partner and head of consulting for EY Singapore, on his observations around the technology and some of the growing concerns around AI.

In this podchat, he answers questions aimed directly at a July 2020 EY report, Bridging AI’s trust gaps, which points to AI discrepancies existing in four key areas: fairness and avoiding bias, innovation, data access and privacy and data rights.

Click on the podcast player to listen to Cheang’s observations around the development of AI, its adoption by large enterprises, the approaches smaller businesses can undertake to benefit from the same innovation, and how governments may consider approaching the technology to narrow the trust gap that current exists among employers who may feel threatened by the technology.

Q1: The report noted that as AI adoption accelerates, this is triggering a ‘techlash’ from the public. What do we mean a techlash and what are consumers’ top concerns?

Q2: AI promises things like being more intimately familiar with the customer’s needs – to a certain degree it is a response to some consumer research calling for better personalization of customer engagement. As companies deploy AI, are they also prioritizing ethical concerns? Or are they more concerned with other principles in developing AI applications?

Q3: The EY and The Future Society’s research revealed widespread disagreement between corporates and policy makers on ethical principles. As policy makers move toward regulatory enforcement, what risks do corporates face if they ignore these misalignments?

Q4: The report warns that a lack of trust between policymakers and companies is one of the greatest risks. How can companies proactively address this risk?

Q5: What should companies do to address these risks and prioritize AI governance?

Q6: What are the challenges that companies will face in addressing these risks?

Q7: Who should lead this effort and who should contribute to the effort?

Q8: Given that SMEs do not have the same resources as large enterprises, how should they approach risk issues around AI?

Q9: How should policy-makers in government approach the task on educating and encouraging AI development?

The EY lists four implications for enterprises looking to tap into the AI opportunity:

  1. Focus on AI’s emerging ethical issues. GDPR was just the beginning. AI will raise a host of new ethical challenges.
  2. Which AI ethical principles are most important in your sector or segment?
  3. How will they affect your business?
  4. How should your strategy respond?
  5. Engage with policymakers. If you’re not at the table, you’re on the menu. Policymakers are ready to move ahead — but, without industry input, blind spots could lead to unrealistic or onerous regulations.
  6. How do policymakers view AI governance and regulation in your sector or segment?
  7. What real-world issues are critical to understanding your business?
  8. How will you be part of the conversation?
  9. Be proactive with soft and self-regulation. Stakeholders expect more now. If companies want to lead on AI innovation, they need to lead on AI ethics as well.
  10. Have you developed a corporate code of conduct for AI — and does it have teeth?
  11. How aligned is it with the ethical principles consumers and policymakers prioritize?
  12. How are you working with your peers (e.g., through trade organizations) on these issues?
  13. Understand and mitigate risks. AI governance — and particularly the “hard regulation” variant — will create new challenges and risks. Companies’ misalignment with policymakers only increases those risks.
  14. What risks might the move to AI governance/regulation create for your business?
  15. How are you mitigating and preparing for these challenges?
Related:  Successfully navigating stormy clouds in 2020
Tags: Artificial IntelligenceEYPodchatstrust gaps
Allan Tan

Allan Tan

Allan is Group Editor-in-Chief for CXOCIETY writing for FutureIoT, FutureCIO and FutureCFO. He supports content marketing engagements for CXOCIETY clients, as well as moderates and speaks at events. He served as Group Editor-in-Chief for Questex Asia concurrent to the Regional Content and Strategy Director role. He was the Director of Technology Practice at Hilll+Knowlton in Hong Kong and Director of Client Services at EBA Communications. He also served as Marketing Director for Asia at Hitachi Data Systems and served as Country Sales Manager for HDS’ Philippine. Other sales roles include Encore Computer and First International Computer. He was a senior industry analyst at Dataquest (Gartner Group) covering IT Professional Services for Asia-Pacific. He moved to Hong Kong as a network specialist and later Head of IT at Imagineering/Tech Pacific. He holds a Bachelor of Science in Electronics and Communications Engineering degree and is a certified PICK programmer.

No Result
View All Result

Recent Posts

  • Ignoring commerce ethics can damage customer trust
  • SUNeVision opens hyperscale data centre in HK
  • More APJ firms eye revamp of their primary data  protection solution
  • Prioritising first-party data exceed customer retention expectations
  • Data and analytics not as effective in delivering value

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Education
  • Finance
  • Finance & Insurance
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • White Papers

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In