According to Harvard Business Review, AI would add 13 trillion dollars to the global economy by the end of the upcoming decade.However, according to McKinsey data, only 8% of organizations engage in practices of adoption of AI.

But, if anything has hampered its progression, of which it has unimaginable potential, it’s ethics.Nevertheless, a little bit of prudence today, when AI is still in infancy, could prove rewarding in the near future when AI would be mainstream in a radical manner.Ethical AI can help businesses achieve scalability without overlooking responsibility.Businesses face challenges to which AI can offer solutions.

Industry experts and AI experts need to come together and chart out a roadmap to achieve a middle ground where impulses are curtailed and prudence takes precedence.AI can pave the way for a makeover of businesses only if AI development processes are infused with ethics.In fact, ‘Ethical AI’ is the cornerstone for fast-track digital transformation and sustainable growth that businesses are looking for.But, no matter how hard businesses brainstorm ideas about ethics, they don’t come into the picture until brought under the ambit of practical usage.A balance needs to be forged between the two; ethics won’t be hauling us out of the labyrinth of AI and the dire repercussions of its irresponsible usage.Ethics are a practicable, adaptable, implementable set of practices, not abstract ideas.When we talk about ethics, it isn’t some abstract verbal jargon or philosopher’s amusement, but a practicable, adaptable, implementable set of practices.AI ethics are not easy practices.

This is important if we want AI to succeed at all fronts.The success of businesses that use AI lies in the success of AI as a trusted and reliable technology.

Issues such as privacy, safety, accuracy, fairness have not been given satisfactory deliberation.But, the EU’s Vestager, executive vice president for digital affairs of the European Commission, seems to have taken a lead in the direction of ensuring safe AI for all.Undoubtedly, the question is not whether AI is feasible or not.

Besides risk, it could lead to poor results, hence bad outcomes for businesses relying on it.Five ways businesses can adopt ethical AI.So, companies need ethical AI to scale up their business and avoid errors and threats.