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From automation to augmentation and beyond, Artificial Intelligence (AI) solutions are used in India and globally by companies to change how business gets done. On careful implementation, this artificial intelligence technology can bring about positive changes through its ability to add value. However, AI has the potential to amplify and perpetuate underlying risks, societal discrimination and inequalities. These risks related to artificial intelligence may either lie in the data or may be inherent in the design of the AI model
The aim of the study was to understand the perception of the following aspects of AI Implementation:
Data privacy requirements in India and abroad is a major ethical concern. In order to ensure that legitimate AI initiatives are not derailed during inception because of this risk perception, organisations would need to ensure that risks related to artificial intelligence are identified at an early stage and communicated to relevant stakeholders (both internal and external) with a robust mitigation approach.
PwC recognises the importance of responsibly in unleashing the potential of AI. The responsible AI (RAI) framework that PwC has developed provides a practical solution to ensure effective stewardship of the outcomes. This technology-enabled toolkit consists of a plethora of flexible and scalable capabilities curated to enable and support the development and assessment of high-quality, explainable, transparent and ethical AI applications.
The toolkit’s diagnostics are designed to help different stakeholders generate trust and inspire confidence. It provides a set of assets curated to accelerate the evaluation of data, models and their trade-offs, considering the relevance and risks associated with artificial intelligence.
Responsible AI (RAI) helps mitigate many of the risks – foreseen or unforeseen - associated with AI. RAI helps formulate effective operating models that minimise risks related to artificial intelligence and maximise rewards. It accelerates innovation and the potential to create value – which could be at stake if AI is implemented in the wrong way. We, at PwC, believe that integration of the RAI toolkit with AI-related initiatives will enable businesses to accelerate innovation and realise their vision.
Partner and Leader, Data and Analytics, PwC India