Risks linked with the technologies used to develop organizations have long been a concern for businesses. When it comes to deploying artificial intelligence, they must do the same. Some risks connected with AI are common and associated with implementing any new technology: AI risks include a lack of strategic accordance with the business objectives, a lack of expertise to support projects, and an inability to gain agreement across the organization’s ranks.
As a result, CIOs and their C-suite colleagues should stick to the same best practices that have directed the rapid implementation of other technologies, with business managers and AI experts recommending CIOs and their C-suite associates to focus on areas where AI can allow them to meet strategic goals, establish programs to ensure they have the greatest potential to support AI programs, and establish strong change management. They can also design robust change management rules to guarantee they have the competence to support AI technology and to smooth and speed up company implementation.
Executives are discovering, however, that AI in the workplace has its own set of risks that must be recognized.
Top 5 AI risks you should be aware of
Here are five potential risks that firms may face as they integrate and use AI technologies in the workplace:
1. AI deployment is hampered by a lack of employee confidence
Despite popular belief and the canon of science fiction films based on sentient variants of artificial intelligence, AI does not work without human engagement; humans must intervene at some level in the business process to take steps based on AI guidance.
However, not all employees are ready to accept their digital coworkers. When it comes to creating worker trust in AI, business leaders definitely have work to do. AI implementation will be ineffective without that trust.
Over the next decade, AI will be the most disruptive technology. In recent years, the performance of this technology has increased significantly in a variety of sectors, with all the implications that this entails. Intelligent software systems are learning more about who we are, what we do, what we desire, and why we want it. A whole new universe of possibilities opens up.
Chatbots, intelligent virtual assistants, and self-driving software assistants will progressively help us. Profitability, time savings, efficiency, insights, and comfort will all be brought to us by AI systems. We’ll get used to having a personal assistant who is there 24 hours a day and understands exactly what we need before we do. It’s impossible to picture a world without the Internet, and it’s even harder to conceive a world without the AI.
However, we cannot ignore the possibility of undesirable outcomes: Russian President Vladimir Putin previously stated that the front-runner in the artificial intelligence field will most likely become the world’s leader. What are your thoughts on the AI system that appears to be able to predict a person’s sexual orientation using face recognition technology? What are our options for dealing with this type of new technology?
Neural networks, which are complex interlinked node systems, have been used as the foundation of many AI systems. These systems, on the other hand, are less capable of displaying their decision-making reason. Only the input and output are visible. The system is overly complicated.
However, when it comes to military or medical judgments, it’s critical to be able to track back the particular data that led to certain conclusions. What was the underlying concept or logic that led to the result? What kind of information was used to construct the system? What is the model’s thought process? Currently, we are mostly in the dark regarding these questions.
4. Biased algorithms
When we give biased sets of data to our algorithms, the system will automatically reinforce our biases. There are countless cases of systems that affect ethnic minorities to a larger extent than the general population. After all, if you feed a system prejudiced data, it will produce discriminatory results.
5. There isn’t enough privacy
Every day, we generate 2.5 quintillion bytes of data. Ninety percent of all digital information in the world was created in the last two years. For the correct operation of a company’s smart technologies, large amounts of clean data are required. With the exception of having high-quality algorithms, an AI system’s capability comes from having greater data sets at its disposal. When it comes to our data, AI companies are progressively becoming Greedy Gus: there is never enough, and anything is permitted to obtain even greater outcomes.