With Chat GPT and other generative AI programmes raising concerns about the future of—well, everything—it appears that AI is everywhere at once. Technology is advancing at breakneck speed, with unknown consequences and outcomes.

The most important question for business leaders is: What does artificial intelligence mean for my organisation?

While AI is a technology that provides unprecedented capabilities to assist in the resolution of our most complex and important problems, it is also equally effective in unlocking human potential. We’re bringing you content on the topic of artificial intelligence in this edition to shed light on what matters most for businesses looking to harness the full power of AI. How to ensure it is used responsibly, and what it will take to reap the greatest returns on AI investments.

According to recent digital research, companies that apply three lessons to scaling AI can achieve big results with small investments. Small investments in specific AI use cases can generate up to 6% more revenue; increasing investments can triple the revenue impact to 20% or more. Scaling use cases is critical for generating and sustaining value from AI, and for companies that can do so, even small seed investments pay off handsomely. However, most businesses have yet to realise the full potential of this approach.

Compliance with regulations is only one aspect of responsible AI. It explains the complex issues raised by the use of AI and points out that many leaders are not yet emphasising the importance of continuously monitoring its impact. The issue should be front and center for CEOs, who must oversee the integration of a responsible AI function into their organisations in order to fully realise the technology’s potential while avoiding its risks.

AI brings both benefits and risks, raising legitimate concerns about its application in business. The best way to address these concerns is to collaborate closely with employees, consumers, and customers to create responsible AI principles that will instill trust in these key stakeholders.

These policies can specify how the organisation will and will not use AI, incorporating safeguards and keeping this powerful technology under control.

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