Why responsible AI is actually good for business

"With great power, comes great responsibility" I remember hearing this dialogue in the Spider-Man movie where Uncle Ben schools a young Peter Parker on the travails of wielding power in life. In the context of Artificial Intelligence, this phrase could not be more relevant. Artificial Intelligence is widely being heralded as General Purpose Technology by many economists – one with a range of characteristics that make it poised to generate long-term productivity and economic growth. The onus of bailing out economies out of turmoil and provide a foundation for a new world order falls on AI, in these COVID times especially. This makes the debate around ethical AI is extremely pertinent today. How can AI be ethical?