A toolkit for corporate officers to identify the benefits of artificial intelligence for their companies and how to operationalize it in a responsible way
Artificial intelligence (AI) is the software engine that drives the Fourth Industrial Revolution. Its impact can be seen in homes, throughout business and its effects on political processes. When embodied in robots, it will soon be driving cars, stocking warehouses and caring for the young and elderly. Within computers and smart devices, it is already shaping our society, defining who is given mortgages, released from prison or shown job opportunities. While AI holds the promise of solving some of society’s most pressing issues, it also presents challenges, such as inscrutable “black box” algorithms, unethical use of data and potential job displacement.
As AI becomes an imperative for business models across industries, corporate leaders will be required to identify the benefits this complex technology can bring to their businesses as well the concerns about the need to design, develop and deploy it responsibly. Striking the right balance will lead to sustainable businesses in the Fourth Industrial Revolution, but failing to operationalize it responsibly can damage brand value and risk customer backlash.
Building on the work already done to guide boards of directors on how to tackle AI, this work will provide a practical set of tools that can help corporate executives understand AI’s impact on their roles, ask the right questions, understand the key trade-offs, and make informed decisions on AI projects and implementations.
Corporate executives are responsible for stewarding their companies through the current period of unprecedented technological change and its attendant societal impacts. A practical set of tools can empower them to ask the right questions, understand the positive and negative aspects of using AI or machine learning in their businesses, and oversee the responsible operationalization of AI in their corporations.
This toolkit is designed to be aligned with c-suite executives’ responsibilities and interests. It will address topics that are specific to the conventional c-suite positions (e.g. CEOs, COOs, CFOs etc.), but also emerging ones (e.g. Chief Data Officer, Chief Digital Officer, Chief Technology Officer etc.). The toolkit will also support companies in deciding whether and how to adopt particular approaches and in understanding the power of the technology to advance their business.
The Toolkit will be co-designed with AI experts and executive officers from diverse companies and industries to ensure it meets the needs of this user community, with input from relevant stakeholders to ensure the inclusion of diverse perspectives.
For more information, contact Kay Firth-Butterfield, Head of AI and Machine Learning, at Kay.Firth-Butterfield@weforum.org or firstname.lastname@example.org