“From determining why and where to implement AI, to addressing bias and ethical considerations, companies need to be prepared to think very differently when it comes to AI,” writes Poornima Ramaswamy, Vice President, AI and Analytics, Cognizant Digital Business. “No two organizations will approach AI the same, but following the steps outlined here will help optimize business results.”

Excerpts from RT Insights’ article:

“As companies develop AI strategies, ethics are critical. It’s not only good business policy, it also helps safeguard the organization against the intense scrutiny of AI usage by corporations. Unfortunately, less than half of all executives surveyed in a recent Cognizant study said that ethical considerations play a critical or significant role when their company develops and employs AI.

Following the five steps outlined below can help organizations develop an effective AI strategy that adheres to ethical standards while achieving business objectives.

• Educate your organization on the implications of AI and how it will affect their careers and the way they do their jobs.
• Experiment continuously and remember it’s not just about the technology but about the implications of the technology on people–so approach experimentation from a human perspective.
• Evaluate a pilot’s results to determine if it makes sense to move to the next phase or stop if the cost-benefit doesn’t align.
• Establish priorities for AI efforts as the role AI plays increases.
• Explore areas where AI efforts will be most effective as you continue to build AI as a core capability.”

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