Today’s market conditions, however, make it seemingly impossible to achieve and sustain competitive advantage solely through innovations, shareholder relations and earnings. No matter how good things seem to be whether earnings are on the rise or a new product is a smash hit — serious threats or digital compromise can instantly damage a company’s reputation, sending even the most respected businesses into a treacherous tailspin. All leading to corporate behavior becoming increasingly cynical in the eyes of the public.
Furthermore, the adoption of AI brings its own share of risks, some identified and some emerging. Matters related to human safety, privacy and security due to its inherent complex and adaptive nature the systems.
Companies that use technology and data responsibly tend to have increased consumer loyalty, improved returns on investments, and are more prepared to respond proactively to the steady stream of new laws and regulations that aim to bring oversight to a wide range of high-risk artificial intelligence systems.