Making sure artificial intelligence (AI) is used appropriately and ethically is a major responsibility of a company’s chief ethics officer. Understanding the legal environment, interacting with stakeholders, and developing regulatory guidelines for AI technology are all part of this role. As a reflection of the significance and difficulty of their duties, those in this role frequently make yearly salaries in the mid-six figures.
A new era of generative AI technology was ushered in with the introduction of ChatGPT, which signified a momentous turning point in the corporate sector. This technology completely changed traditional work procedures because it could write emails, write code, and create graphics in a matter of minutes. With the efficiency and productivity advantages provided by generative AI, it appeared as though the days of people spending hours on emails and painstakingly creating presentations were coming to an end.
Companies, driven by the potential for increased profits and productivity, quickly adopted this technology. According to a May survey conducted by McKinsey & Company, 65% of over 1,300 companies surveyed reported regular use of generative AI, a notable increase from the previous year. This rapid adoption, however, brought significant risks. Generative AI can “hallucinate,” spreading misinformation and reinforcing biases against marginalized groups if not properly managed. The reliance on vast amounts of sensitive data also raises the potential for data breaches. The most concerning risk, however, is that as AI becomes more sophisticated, it may increasingly diverge from human values.
The power of generative AI necessitates a corresponding level of responsibility. Companies that benefit financially from this technology must also ensure they regulate it effectively, which is where a chief ethics officer comes in. This role is critical in the age of AI, as it involves assessing the broader societal impact of a company’s use of AI. Var Shankar, the chief AI and privacy officer at Enzai, a software platform for AI governance, risk, and compliance, emphasizes that the role extends beyond the company’s bottom line to consider the effects on customers, society, and the environment. Building a standardized and scalable program to address these questions every time AI is used is a key responsibility of the chief ethics officer.
Programmers, policy aficionados, and philosophy majors, among others, can use this position as a springboard into the rapidly evolving IT sector. Because of the crucial nature of the duties involved, the post frequently pays well, with an annual compensation in the mid-six figures. The chief AI ethical officer of Boston Consulting Group, Steve Mills, claims that employers are not filling these positions fast enough. Despite the fact that risks and principles are frequently discussed, he observes that not much is done to operationalize them within businesses.
To be effective, those in the role need expertise in four key areas: a technical understanding of generative AI, experience in product development and deployment, knowledge of AI-related laws and regulations, and significant experience in hiring and decision-making within an organization. Mills points out that mid-level managers often lack the stature to effect change within an organization and rally legal, business, and compliance teams together. He asserts that every Fortune 500 company using AI at scale should have an executive overseeing a responsible AI program.
The post does not require a certain educational background, as Shankar emphasizes. Shankar is a lawyer by training. Knowledge of an organization’s data, including the moral ramifications of data collection, use, provenance, and consent, is the most important prerequisite. Without a solid understanding of their data, for example, healthcare providers may inadvertently reinforce prejudices. An algorithm used by hospitals and health insurance firms to identify patients for “high-risk care management” led to a research published in Science that showed that healthier white patients were prioritized over sicker black patients. By ensuring that data is handled ethically and with full comprehension, an ethics officer can assist businesses in avoiding mistakes like these.
Another crucial component of the job is effectively communicating with different stakeholders. Mostly, Christina Montgomery, vice president of IBM, chair of the AI Ethics Board, chief privacy and trust officer, and event planner, is out attending client meetings and interacting with external boards and legislators. For the purpose of influencing and forming the ethics of AI in the future, she feels that these exchanges are crucial. Montgomery is involved on boards such as the International Association of Privacy Professionals, which has introduced a certification program for Artificial Intelligence Governance Professionals, catering to people who want to be at the forefront of AI ethics. She feels that exchanging best practices throughout firms and maintaining constant contact are crucial.
A comprehensive comprehension of events at the societal level is important, as demonstrated by Montgomery’s methodology. She worries that there is a lack of international consistency in AI-related norms and regulations, which can make it difficult for businesses to adhere to different requirements. As a result, managing the changing field of AI ethics requires constant communication between businesses, governments, and boards of directors.
In order to responsibly implement AI technology, a chief ethics officer’s function is crucial. These executives see to it that businesses handle the dangers and ethical issues that come with using AI in addition to reaping its benefits. The role will become increasingly important as AI technology develops, requiring a blend of technical know-how, moral consciousness, and skillful communication to advise businesses on how to utilize AI responsibly.
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