Responsible AI: Managing ethical and regulatory risks while using AI to accelerate growth

Artificial intelligence (AI) is set to transform our economy as industry-specific models continue to emerge and gain traction. From retail and hospitality to manufacturing and finance, specialised AI systems are enabling unprecedented levels of efficiency and innovation. As they become more sophisticated, their potential to drive decision-making, streamline operations and create business opportunities expands rapidly. 

In Australia, for instance, it's estimated that by 2030 AI could increase the economy by 40%, adding $600 billion to our annual gross domestic product. 

But Australians are also among the most wary of artificial intelligence, distrustful that their data will be adequately protected.

How AI anxiety is slowing progress 
It's not surprising, then, that progress toward achieving the scaled value this technology enables is being slowed by anxiety around data privacy and security, the bias inherent in much AI, the potential for AI to displace or disrupt work, and the consequences for businesses of falling foul of regulations. 

Assigning frontline customer service to an AI-powered chatbot, for example, comes with the risk of errors or bias leading to customer complaints. Chatbots hallucinating answers inconsistent with an organisation's policy and swearing at customers make for amusing headlines, but the reality of reputational damage is no joke. 

As AI technologies advance, ethical implications and issues of accountability also come to the fore. Who is responsible, for example, when an AI-powered system delivers an incorrect diagnosis, recommendation for medication, or legal advice? Who is to be blamed when an autonomous vehicle causes an accident?

This anxiety around AI's place in our ethical frameworks ramps up further when it extends to broader security and privacy issues. The unregulated use of biometric data, disregard for copyright and IP laws, and unauthorised integration of personal or commercially sensitive data are all potential risks that can come with significant potential costs. And in their efforts to address these concerns by prioritising security and protecting data, many organisations are stifling innovation and progress by implementing complex approval processes for new technologies, with legal teams working overtime to ensure compliance with both national privacy laws and alignment with international regulations.

Balancing AI benefits with ethical responsibility and compliance: Introducing Responsible AI by Infosys Topaz
So how can businesses get the balance right between tapping into the rapidly evolving and myriad benefits offered by AI while meeting their ethical and legal obligations given the potential risks?

Enterprises need frameworks in place that can help them monitor and protect AI models from threats, satisfy their legal obligations, address vulnerabilities with a single source of truth for compliance, mitigate the risk of bias by incorporating ethical practices, and ensure compliance with robust security measures. 

At Infosys we envision a future where AI enhances and transforms, bringing about positive change, and to shape this future, we employ the highest standards of Responsible AI (RAI), prioritising fairness, transparency and accountability. 

Infosys Topaz is a responsibly designed suite of AI-first services, solutions and platforms to help organisations unlock the benefits of AI and counter the risks while meeting their obligations to adopt specific standards and safeguards. Based on the AI3S framework of Scan, Shield, and Steer, Infosys Topaz helps enterprises navigate and address the complex technical, ethical and governance challenges associated with developing Responsible AI across their organisations.

Take our earlier example, for instance. 

Using Explainable AI (XAI) techniques demonstrates precisely how an AI chatbot arrives at its decisions, which allows developers to identify and mitigate potential biases during the chatbot validations well before the service is made available to customers. Likewise, Transparency and Fairness Assessments help to ensure the AI system doesn't exhibit bias or discrimination based on certain data characteristics.

When it comes to safeguarding data, Data Privacy by Design principles help implement data anonymisation techniques while robust governance practices ensure the protection of sensitive information and compliance with privacy regulations. 

Moreover, automated technical and policy guardrails mean enterprises can work at pace with no cumbersome manual checking processes holding up progress. Topaz's frictionless solutions scan AI systems for violations or irregularities, removing the "what could go wrong?" stress so businesses can focus on leveraging the innovation and accelerated growth AI allows them. 

The Infosys Topaz Responsible AI suite addresses the complex challenges and risks associated with AI by delivering a robust and comprehensive suite of AI-first services that ensure regulatory compliance, strengthen data security, and mitigate the risk of bias and discrimination. With these safeguards in place, businesses can harness the potential for accelerated growth and efficiency that AI offers, knowing their ethical and operational integrity has not been compromised.