The adoption of ArtificiaI Intelligence (AI) by businesses has increased significantly since the beginning of the COVID-19 pandemic. Indeed, the current health crisis has pushed companies to turn to AI so as to keep working despite the restrictions imposed and to do more with less. According to PwC, AI could end up representing no less than $15.3 trillion of the world economy by 2030.
So, why does AI appeal so much to businesses and for which consequences?
A boost in AI adoption:
The KPMG survey published in 2021 and entitled Thriving in an AI World revealed that the growing appeal of AI lies in the fact that it has proven to be a valuable asset. Indeed, AI has played a significant part in the development of vaccines, in noticing and tackling fraud within financial services for instance and has also been behind the improvement of “bureaucratic efficiency”.
These positive outcomes have thus led businesses to adopt AI platforms which, in turn, have confirmed that AI was a useful tool for their companies and had been highly beneficial. The numbers given by the survey speak for themselves: “93% of business leaders are confident in AI’s ability to detect fraud in the financial services industry” and “79% of government decision-makers” highlight AI’s capacity “to improve bureaucratic efficiency”.
Despite being praised for its benefits, the growth of AI adoption has also and mainly been a subject of concern both among industry leaders and among lower levels of management.
Faster AI Adoption raises concerns
The survey conducted by KPMG discloses the reasons behind the concerns some have with the current speed of AI adoption. Among them are security issues such as cybersecurity breaches; privacy violations concerns; surveillance issues as well as apprehension towards the ethics behind AI. The numbers collected by KPMG show that a vast majority of people are mainly concerned with cybersecurity breaches and hacking.
Another issue brought up is the fact that, once your company is settled on adopting AI, it is actually quite tough to know exactly which AI technology will best match your needs, particularly due to the constant evolution of AI platforms.
More AI regulation needed
In order to reassure employees and business executives about AI, every company should take a step forward and put ethics policies in place. The survey shows that a large amount of people, including business leaders, believe that the government has a responsibility when it comes to the regulation of AI.
Last April, the European Commission published a report with “new rules and actions for excellence and trust in AI”, following a “risk-based approach”.
- The first category is unacceptable risk: when AI systems pose a threat to the integrity and privacy of an individual, they are banned from the market.
- The second one is the high-risk category: when products present these types of risks they go through further inspection and have to follow strict regulations before being allowed on the market.
(Source: European Commission)
- The third category is limited risks: it basically implies that further transparency should be adopted so as to ensure users are aware they are dealing with an AI system (with chatbots for instance)
- The fourth and last category is that of minimal risk. There is no specific regulation for the AI systems falling into this section.
(Source: European Commission)
Thus, the European Commission has taken the steps required so as to make AI adoption safer and more trustworthy. It is now time for governments to help businesses implement those restrictions.
2OS: No-code as a way to make AI projects more successful economically
The democratisation of AI has been possible, mainly thanks to no-code. While conventional and traditional AI services are time-consuming, and require deep tech-knowledge, no-code makes the whole process a lot easier. Not only is it faster, it is also less draining. Have you ever heard about no-code as a way to counter Shadow IT? If not, click here to find out how it is done.
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