IDC International Data Corporation
IDC International Data Corporation is a global provider of events, advisory services, and market intelligence for the consumer technology, telecommunications, and information technology sectors. Typically, IDC International Data Corporation whitepapers include comprehensive research, analysis, and insights on market developments, technology, and industry trends.
Examine the latest IDC whitepaper’s business case for responsible AI
With great pleasure, Microsoft present The Business Case for Responsible AI, a report that Microsoft commissioned with IDC International Data Corporation. This whitepaper provides business and technology leaders with advise on how to methodically develop trustworthy AI. It is based on IDC’s Worldwide Responsible AI Survey, which was sponsored by Microsoft. AI has become a disruptive force in current quickly changing technology landscape, changing entire industries and how companies function.
The use of generative AI increased from 55% in 2023 to 75% in 2024; there is no denying AI’s capacity to spur creativity and improve operational effectiveness. One But enormous power also comes with immense responsibility. AI technology deployment poses serious risks and challenges that must be overcome to ensure responsible use.
Microsoft aims to enable everyone and every organisation to use and create trustworthy Artificial Intelligence secure, safe, and private. Microsoft approach to safe AI, also known as responsible AI, is based on their fundamental beliefs, risk management and compliance procedures, cutting-edge tools and technologies, and the commitment of people who are dedicated to the responsible deployment and use of generative AI.
By guaranteeing that AI technologies are created and used in a fair, open, and accountable manner, microsoft think that a responsible AI strategy promotes innovation. According to IDC International Data Corporation’s Worldwide Responsible AI Survey, 91% of businesses are now utilising AI technology, and by 2024, they anticipate that AI will have improved customer experience, business resilience, sustainability, and operational efficiency by more than 24%.
Companies that employ ethical AI solutions also mentioned advantages including better data protection, a better customer experience, assured business choices, and increased trust and reputation for their brands. Throughout their creation and implementation, these solutions are constructed using techniques and tools to recognize, evaluate, and reduce possible risks.
Business transformation is greatly aided by Artificial Intelligence (AI), which presents previously unheard-of chances for innovation and expansion. However, in order to reduce risks and foster confidence with stakeholders and customers, AI must be developed and used responsibly. Organisations may connect AI deployment with their values and social expectations by taking a responsible AI approach, which will create long-term benefit for the company and its clients.
Important conclusions from the IDC survey
The significance of operationalising responsible AI principles is emphasised by the IDC International Data Corporation Worldwide Responsible AI Survey:
- The primary obstacle to implementing and expanding AI, according to over 30% of respondents, is the absence of governance and risk management solutions.
- Improvements in data privacy, customer experience, confident business decisions, brand reputation, and trust were indicated by over 75% of respondents that employ responsible AI solutions.
- With 35% of AI organisation spending in 2024 going towards AI and machine learning governance tools and 32% going towards professional services, organisations are paying more and more in these areas for responsible AI.
In light of these conclusions, IDC International Data Corporation proposes that a responsible AI organisation is composed of four fundamental components: personnel, technologies, risk management and compliance, and core values and governance.
Fundamental principles and government
With the backing of business leadership, a responsible AI organisation clearly states its AI purpose and guiding principles. AI technology gain confidence and trust when a clear governance structure is established throughout the company.
Compliance and risk management
It is crucial to increase adherence to declared values as well as existing laws and rules. Organisations must create risk-reduction policies and implement them using a risk management framework that includes frequent reporting and oversight.
Technology
It is essential to use strategies and technologies that uphold values including accountability, robustness, explainability, fairness, and privacy. AI platforms and systems need to be designed with these ideas in mind.
Workforce
It is crucial to train all staff members on responsible AI concepts and to enable leadership to elevate responsible AI as a crucial business objective. Responsible AI deployment within the company is ensured by training the larger workforce.
Suggestions and guidance for executives in technology and business
Organisations should think about adopting a methodical approach to AI governance in order to guarantee the appropriate usage of AI technologies. Here are some suggestions for technology and business executives based on the research. It is important to note that Microsoft has embraced these guidelines and is dedicated to assisting clients on their journey towards responsible AI:
Identify the fundamentals of AI
Make a commitment to the responsible development of technology and designate particular application domains that will not be pursued. Build and test for safety, and refrain from fostering or reiterating unjust bias. Microsoft responsibly develops and manages AI.
Implement AI governance
A diverse and inclusive AI governance body should be established. Establish guidelines for the use of AI both internally and externally, encourage explainability and openness, and carry out frequent AI audits. Examine the Transparency Report from Microsoft.
Prioritize privacy and security
To prevent unwanted data access and maintain user confidence, strengthen privacy and data protection procedures in AI operations. Microsoft’s efforts to safely and responsibly deploy generative AI throughout the company.
Spend money on AI education
Provide funds for frequent workshops and training on ethical AI practices for all employees, including top leadership. Business executives, developers, and machine learning specialists can access generative AI courses on Microsoft Learn.
Keep up with international AI rules
Stay informed about international AI laws, such the EU AI Act, and make sure that new standards are met. Keep abreast on the Microsoft Trust Center’s criteria.
Technology’s critical to keep in mind that ethical AI is a competitive advantage as businesses continue to incorporate technology into their operations. By incorporating ethical AI principles into their operations, companies may boost sustainability, innovation, and consumer trust. Businesses that prioritise responsible AI may be better prepared to tackle AI’s problems and capitalise on its opportunities to innovate or rethink the consumer experience.
At Microsoft, they are dedicated to helping microsoft’s clients navigate the ethical AI landscape. To assist organisations in successfully implementing responsible AI principles, microsoft provide a variety of tools, resources, and best practices. Furthermore, microsoft are using microsoft’s network of partners to give clients technical and commercial insights that will facilitate the implementation of ethical AI solutions on the Microsoft platform. Together, they can build a future where AI is applied responsibly to the advantage of companies and society at large.
Making ethical AI a standard procedure throughout the company is crucial as businesses negotiate the challenges of using AI. By doing this, businesses may use AI to its fullest potential in a way that is equitable and advantageous to everyone.