Responsible artificial intelligence is good business

There is increasing evidence of the business benefits of responsible AI (RAI), when companies mitigate risks through training and testing data, measuring model bias and accuracy, and model documentation. Companies that adopt responsible AI experience higher returns on their AI investment. Raj Shekhar writes that business leaders globally must coalesce around the imperative to develop rigorous, consistent standards for responsible AI adoption. Much has been spoken and written about the risks to public trust and safety arising from the adoption of artificial intelligence (AI)-based applications across multiple sectors. In finance, the use of AI has led to discriminatory credit decisions.