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.
