Artificial intelligence (AI) has undeniably made remarkable progress in the past five years, exemplified by ChatGPT’s widespread success.
Today, generative AI creates content across various media, and algorithms embedded in everyday software and platforms shape our choices, from the media we consume to the routes we take.
AI has found diverse applications, including fraud detection, code generation, and personalized marketing, with tech and automotive industries advancing autonomous vehicles through machine learning and sophisticated algorithms.
The Overlooked risks of Accelerating AI adoption
However, as AI matures, concerns arise over its potential risks. While it aids decision-making, it cannot replace human judgment entirely, as it relies on algorithms and data fed by humans. Imperfections in data quality, biases, and incomplete or inaccurate information present challenges.
Several Issues Warrant Attention:
1. Unvalidated data sources: AI tools relying on the internet for data may lack ways to verify information quality and accuracy, raising concerns about content reliability.
2. Manipulated data: AI systems can be manipulated, impacting data reliability and objectivity, leaving room for fraudulent activities or influence on public opinion.
3. Breach of copyright and privacy concerns: AI-generated responses are not original, raising copyright issues and privacy risks when using copyrighted content or personal data.
4. Loss of data control: Companies must carefully review agreements when providing data to commercial AI tools, as proprietary information might become public domain, benefitting competitors.
5. Undifferentiated business outcomes: Over-reliance on similar AI systems and datasets may lead to similar business decisions and a lack of uniqueness in products and services.
Trust Your Own Data, People, and Partners
To address these challenges, organizations must not solely rely on AI-driven decision-making and must prioritize data governance.
Implementing clear standards, selecting trusted data sources, and understanding data origins is essential to avoid biases and inaccuracies.
Companies should prioritize their in-house data or partner with trusted entities to ensure accurate, reliable data for AI algorithms.
A closed environment for data access and collaboration with close partners will further mitigate risks. Clear policies on AI usage and decision explanations will also enhance risk reduction.
In conclusion, while AI’s progress is impressive, companies must exercise caution in its adoption.
Trusting their data, people, and partners, while setting clear standards and policies, is essential to unlocking AI’s value responsibly and striking the right balance between AI capabilities and human judgment.
By Brian Civin, Chief Sales and Marketing Officer at AfriGIS