Abstract
Organizations across industries are adopting artificial intelligence (AI) in their functions. They report the beneficial influence of AI on revenue generation, customer analytics, demand forecasting, and cost reduction. However, adopting AI in the organization can introduce new challenges and risks that need to be identified and mitigated. Performance improvement professionals are ideally suited to help organizations design and oversee AI models. Creating responsible AI and de-risking it by design will give your organization a stronger competitive position in this fast-paced industry. This article defines important AI concepts, explains the AI model development process, describes types of biases that could be introduced into the AI model, and provides best practices that will help you design a fair and effective algorithm.
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