Company
Date Published
Author
Catherine Dee
Word count
2930
Language
English
Hacker News points
None

Summary

AI is no longer just a breakthrough technology with tons of potential, but it's helping companies automate complex systems, improve decision-making, reduce expenses, and make processes safer, fairer, and better able to operate at scale. Business use of AI has become integral across industries, including healthcare, banking, fraud prevention, retail, and manufacturing, with spending on AI solutions expected to surpass $500 billion worldwide by 2027 and the market for AI technologies reaching $1.8 trillion by 2030. However, as AI evolves rapidly, it's difficult to keep up with the latest advances and ethical considerations, which is why creating and rolling out AI-aided apps involves considerable risk and companies are becoming aware of various negative ramifications if they don't handle the use of AI well. To mitigate these risks, companies need to create an AI code of ethics, be proactive in embracing principles, keep their data safe, design ethically, add context to their data for accuracy, transparency, and explainability, and adopt ethical AI practices with tools like Neo4j graph technology.