AI and digital transformation are driving forces in business today. Yet, 67% of consumers are worried about AI discriminating against them. And 78% of consumers say that it is important for companies to take active measures to reduce bias in AI. Research shows that even the most well-designed AI systems can still end up with bias, per McKinsey. The acknowledgment that discrimination (race, gender, age, etc.) are social problems that are manifested in engineering systems and modeling decision inputs that shape how we purchase, lend, hire, buy is concerning. These decisions can shape the future of work and supply chains.
According to Genpact's study, AI 360: Hold, fold, or double down?, mitigating AI bias can increase opportunities to build customer relationships. Most consumers (58%) are more likely to recommend a company that can demonstrate its AI algorithms are bias-free, and more likely to purchase products or services from such businesses (56%). Gen Z (69%) and millennial (70%) respondents champion unbiased brands even. How do you build trust in the digital age?
In Episode 23, the Supply Chain Revolution podcast explores AI and how digital transformation is a driving force in business today. But do we understand AI, and how can we shift the paradigm of black box to glass box? The AI revolution will continue whether we want it to or not, and how do we prevent unethical AI? How do we build trust in algorithms, and impacts in the future of work and autonomous supply chains? This Part 1 of a 2 part series featuring Celia Fleischaker, Chief Marketing Officer at PROS, an AI-based platform that helps people and companies outperform by enabling smarter personalization in the digital economy.
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