AI Ethics

Discover Why Ethical AI Is Vital for Businesses

Trust is more important than ever for businesses. Gaining the trust of your customers, partners, and the world at large is not only a competitive advantage but also the key to a successful and sustainable
business model

When it comes to AI, gaining that trust is more important than ever. And the secret is making ethics a core component when developing artificial intelligence because:

  • 75% of consumers won’t buy from unethical companies (Edelman Trust)
  • 86% of consumers are more loyal to ethical companies(Edelman Trust)
  • 93% of consumers believe companies
    should positively affect society(Salesforce).

Discover Why Ethical AI Is Vital for Businesses

Trust is more important than ever for businesses. Gaining the trust of your customers, partners, and the world at large is not only a competitive advantage but also the key to a successful and sustainable business model

When it comes to AI, gaining that trust is more important than ever. And the secret is making ethics a core component when developing artificial intelligence because:

  • 75% of consumers won’t buy from unethical companies (Edelman Trust)
  • 86% of consumers are more loyal to ethical companies(Edelman Trust)
  • 93% of consumers believe companies
    should positively affect society(Salesforce).

Some of the Benefits of Ethical AI for Business Include:

Increased Customer Acquisition Rates

Taking an ethical approach to AI is essential in the current consumer environment as 97% of customers demand that brands use tech and data more responsibly and ethically (WE Communications).

Developing a reputation for ethical AI by taking action – consumers want proof, not just talk – represents a critical competitive advantage.

Reduced Customer Churn

Brands that use and develops ethical AI will easily set itself apart from the competition, leading to increased customer loyalty and lower churn rates.

Improved Talent Attraction and Retention Rates

Just like consumers, employees have become more concerned with working for ethical and responsible companies. To attract and retain top talent, firms must take an ethical approach to using and developing artificial intelligence.

Enhanced compliance with potential legal changes centered on AI ethics

In Europe, laws have already been enacted to ensure companies develop and use AI responsibly and promote innovation. A firm already taking an ethical approach to using and developing AI will have nothing to worry about.

Expanded Acceptance of AI Allowing for More Widespread Applications

Organizations that put ethics at the forefront of AI development will gain an unparalleled competitive advantage by earning the trust and loyalty of consumers. Not only will this translate into an improved bottom line, but it’s also a far more sustainable approach to doing business.

Who is Leading this:

Dr Stylianos (Stelios) Kampakis is a data scientist with more than 10 years of experience. He has worked with decision makers from companies of all sizes: from startups and solo entrepreneurs (which in total have raised more than $50million in funding) to organisations like, the US Navy, Vodafone and British Land. He is a member of the Royal Statistical Society, honorary research fellow at the UCL Centre for Blockchain Technologies, a mentor in Cambridge University’s Judge Business School, a data science advisor for London Business School and CEO of The Tesseract Academy. He is also the author of the Decision Maker’s Handbook to Data Science, a book that has defined the space of data science for executives.
Tom has more than 40 years’ experience working as a Consultant in IT, Business Analysis, Project Management, Systems Development, Data Protection, Information Governance and Management, Data Protection, GDPR and Cyber Security. He has worked at levels of management – up to Board level, in the UK, USA and China. He is a Fellow of both the British Computer Society, the Institute of the International Association of Privacy Professionals and is a National Cyber Security Centre approved Cyber Security Consultant. He has undertaken data protection and cyber security compliance at over 30 companies within the Health, Finance, Fintech, Marketing, Events Management, Manufacturing, Retail, HR, IT and other sectors within both the private and public sectors – for start-ups, SMEs and multi-national companies.
Anthi is a legal consultant and founder of Privacy Doctor. She is holder of an LL.B in Law and from King’s College and LPC graduate from The University of Law. She is actively involved with data protection matters and is the UK representative at the International Network of Legal Privacy Professionals (INPLP) and is a Certified Privacy Professional in Europe (CIPP/E). She currently specialises in data protection and compliance as well as commercial contracts and intellectual property in the tech, e-commerce, recruitment, fashion and retail industries. Anthi’s work also extends to AI and blockchain regulation as well as data ethics and governance.

 

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