Business leader express concerns about ethics and implementation of artificial intelligence

A new survey of 1,000 global business leaders claims that although leaders say they understand how valuable artificial intelligence can be to their business, over two-thirds (69 percent) say their organisation lacks the skills to fully implement artificial intelligence (AI) and machine learning (ML). The report – AI IQ: Insights on Artificial Intelligence in the Enterprise [registration] – also suggests that the majority of business leaders believe humans should be involved in AI decision-making, citing ethical and data concerns.

Nearly three-quarters (73 percent) of business leaders are feeling pressure to implement AI at their organisations, but the vast majority are wary of giving up too much decision-making power. In the survey of 1,000 business decision-makers from around the globe, 93 percent said it’s important for humans to have oversight of AI or machine learning (ML) when making significant decisions.

More than 90 percent said they currently use artificial intelligence within their operations for managing people, money, or both, and 80 percent agree AI and ML helps employees work more efficiently and make better decisions. The need for investment in this area is clear – 80 percent of respondents agree that AI and ML are required to keep their business competitive.

But despite widespread adoption and broad agreement around the case for AI and ML in the enterprise, concerns remain about its accuracy, ethics, and security. In fact, 77 percent of respondents are concerned about the timeliness or reliability of the underlying data, 39 percent consider potential bias to be a top risk when considering AI, and 48 percent cite security and privacy concerns as the main barriers to implementation.

Only 29 percent said they are very confident that AI/ML are being applied ethically in business right now, but they are more optimistic about the future – with more than half (52 percent) saying they are very confident it will be applied ethically in five years’ time.

New skills

Business leaders are considering AI’s impact on the workforce of today and tomorrow. Nearly half (45 percent) believe AI and ML will benefit workers, augmenting workloads and creating new career paths. 43 percent are more cautious, warning that AI and ML will replace some tasks, causing some unemployment among workers. 12 percent are more doubtful, saying that AI and ML will replace humans completely and have a negative impact on workers.

While leaders agree it is critical for humans to be involved in AI decision making, the survey also found a critical skills gap to successful AI implementation. Nearly three-quarters (72 percent) of respondents said their organisation lacks the skills to fully implement AI and ML, and an even slightly higher percentage (76 percent) said their own knowledge of AI and ML applications needs improvement.

Key survey findings include:

• 93 percent of business leaders in the UK & Ireland believe humans should be involved in artificial intelligence decision-making
• 69 percent of respondents in the UK & Ireland are concerned about the timeliness or reliability of the underlying data
• 29 percent of respondents in the UK & Ireland said they are very confident that AI and ML are being applied ethically in business
• 65 percent of business leaders in the UK & Ireland are feeling pressure to implement AI at their organisations
• 77 percent of respondents in the UK & Ireland agree AI and ML helps employees work more efficiently and make better decisions
• 69 percent respondents in the UK & Ireland said their organisation lacks the skills to fully implement AI and ML

“Our latest study confirms that AI & ML are essential for achieving success in the evolving landscape of work – this view is shared by the majority of business leaders globally. However, the organisations face difficulties with deploying these technologies because of skills deficit,” said Jens Löhmar, CTO Continental & DACH, Workday.

“Operationalisation of AI & ML Strategies also slows down due to ethical concerns, lack of data integrity and addressing employee fears that these technologies may displace jobs. To effectively embrace AI & ML, it is crucial to prioritise augmentation of human insight & decision making as well as collaborate with vendors who demonstrate a dedication to responsible AI practices and data integrity.”