Six steps for developing an AI ethics framework

Managed the right way, the opportunities for application of artificial intelligence (AI) are endless--but managed the wrong way, so are the legal, regulatory, reputational, and financial risks. "A myriad of opportunities to leverage AI highlight why an ethical mindset is critical to protect an organization from unintended, unethical consequences," Maureen Mohlenkamp, a principal in Deloitte's risk and financial advisory practice, said during a recent Deloitte Webcast on AI ethics. In broad terms, artificial intelligence encompasses technologies that are designed to mimic human intelligence. Because AI's application is still in its early stages, companies across all industries have only just begun to scratch the surface of its full potential in the business world. "A myriad of opportunities to leverage AI highlight why an ethical mindset is critical to protect an organization from unintended, unethical consequences."