Using AI responsibly and competitively

By effectively showcasing their commitment to responsible Al, companies can differentiate themselves in the marketplace, enhancing their competitive advantage and fostering greater consumer confidence.

- LEE CARLO B. ABADIA

Artificial intelligence (AI) is evolving rapidly, with businesses striving to harness its potential across various products, services, and operations.

However, successful implementation hinges both on speed and principles of responsible AI, which are crucial for fostering adoption and ensuring long-term value.

While many organizations have established responsible AI guidelines, the effectiveness of these principles in practice remains questionable. A key concern is whether C-suite leaders truly grasp consumer apprehensions about AI and are prepared for the emerging risks associated with advanced AI technologies.

To shed light on these issues, EY initiated the Responsible AI Pulse survey, a global survey conducted in March and April that involved 975 C-suite leaders, including CEOs, CFOs, CHROs, CIOs, CTOs, CMOs, and CROs, all responsible for AI within their organizations. These respondents represented companies with annual revenue exceeding $1 billion across 21 countries in the Americas, Asia-Pacific, and EMEIA. The initial findings reveal a significant disconnect between C-suite perceptions and consumer sentiments regarding responsible AI, with many executives displaying misplaced confidence in their practices and alignment with consumer concerns, potentially hindering user adoption and trust as autonomous AI models become more prevalent.

Furthermore, the findings from the EY AI Sentiment Index Study are referenced, which surveyed 15,060 individuals across 15 countries to assess global sentiments toward AI.

C-SUITE LEADERS’ PERCEPTIONS VS CONSUMER SENTIMENT