With artificial intelligence cemented into the ether of modern life, any concerns about its negligent or criminal impact are quickly dismissed as being anti-progress.
CIOs however, are very cognizant of the ethical conundrums posed by deepfakes. KV Dipu, Senior President, Bajaj Alliance General Insurance references McKinsey’s report that highlights that while AI can increase operational efficiency by up to 30%, it also introduces significant ethical challenges related to data privacy, algorithmic bias, and transparency.
Ajay Poddar, CTO, HDFC Retirement Tech firmly that with great power, comes great responsibility. “To avoid reputational damage and legal issues, organizations should consider ethical implications while working on AI innovation,” he says. He categorizes his strategy as such:
