
Insight | 07.25.24
Insight | 04.20.21
AI is here and in the words of PF Sloane, many think we are on the “the eve of destruction.” But it is not that dire, it always feels this way when we are on “the eve of disruption.” For example:
Challenges of AI
The artificial intelligence disruption is rolling in and protesting or lamenting the risks will not hold it back. In these situations, big opportunities come commensurate with risks and responsibilities. Minimizing the challenges confronting this generation presents significant leadership moments. So, we have been here before, the next wave is approaching, and “disaster” is just around the corner. What is different this time is the reach of artificial intelligence in a Now-Digital, Now-IT based world.
The artificial intelligence wave is here, perhaps not cresting yet and what are some of the most frequently presented concerns?
These are some of the challenges with artificial intelligence, but not a complete list.
Opportunities for AI
The challenges are plentiful but the opportunities are significant. They include:
It is hard to imagine a discipline where artificial analysis has greater impact than marketing. Areas affected include:
With all the avenues for delivery business value, it is little wonder that artificial intelligence is projected to deliver additional global output of $13 trillion dollars.
Where We Go From Here
The value proposition is extensive, while at the same time the risk profile can be viewed as daunting. Where do we go from here?
Managing the introduction of artificial intelligence must address risk areas mentioned earlier. The risk/reward relationship has all of the elements associated with introducing any new technology. Artificial intelligence intensifies the risk/rewards because we are replacing routine human tasks and/or introducing data relationships and business tasks not easily grasped or described.
Not understanding all the outcomes after AI implementation impacts the ability to have a sense of risk profiles for each potential application. Prevention and second order thinking becomes critical in assessing unintended consequences. This starts with the technology used to implement solutions powered by artificial intelligence. Isolating, cleansing and using appropriate unstructured data from a variety of sources is an emerging challenge. This must be accomplished in a secure manner, without revealing sensitive and personal information, and still achieve the business value of the algorithm/model. The delivery of the right data at the right time along with the uptime of the infrastructure of the solution is also key when artificial intelligence is applied to a mission-critical function, like customer service. Additionally, when utilizing what appears like non-sensitive information in building the artificial intelligence solution, the appropriate security levels must be established so that bad actors are prevented from building false identities for hacking and data-theft activities.
If an artificial intelligence solution could be compared to an automobile, the above elements would be similar to the frame, body, and tires/brakes. The real “engine” is the algorithm. In building and maintaining the algorithm, constant vigilance is required to ensure that recommended outcomes are consistent with regulations, social norms, and brand image. Managing the supplied data and supervising the algorithm includes addressing concerns over bias, underrepresented populations, and outcomes where there is no recourse (outcomes where it is unknown how to change the recommendation). Outcomes and response also require consideration on how the AI solution interacts with humans. When and how do humans interact with solutions when the solutions are slow to react to or are generating safety issues. This is not straightforward because they must also address situations where human judgment may be incorrect.
When implementing artificial intelligence, the following quote comes to mind:
“Where there is great power there is great responsibility,” Winston Churchill 1906
In meeting the challenges that artificial intelligence presents, a structured enterprise approach that isolates the most critical risks, controls for the development/implementation of solutions, and strategizes to prioritize risks based on model transparency, complexity, and the nature of the human interface, is whole-heartedly advised in order to achieve success.
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