As if executives don’t have enough reasons they lose sleep, along comes A.I. Here’s what executives are telling me has them reaching for the sleep aids.
Ethical Issues
Let’s start with the elephant in the room. If AI ethics isn’t at the top of everreasons they lose sleepexecutive’s list, it should or will be in a hurry. And it’s complex, to put it mildly. Ethical use of AI in decision-making, the responsibility for AI errors or harm, all sorts of purposeful nefarious motives, and even morality (DNA editing) will impact society at large. The fear of unintended consequences or crossing ethical boundaries in pursuit of business goals is costing a lot of executives a lot of sleep. To
Job Displacement
AI has the potential to replace wide swaths of the labor force across all sectors, causing executives to worry about the ethical implications of laying off employees and the impact on company morale and reputation. They also fear potential backlash from their stakeholders as social issues gain traction.
Data Privacy and Security
Probably the most pressing, front burner issue, executives are deeply concerned about the security and privacy risks associated with and caused by AI: data breaches, unauthorized access, and the misuse and abuse of personal data. Maintaining compliance with regulations adds another layer of complexity to AI implementation.
Bias and Fairnes
AI algorithms csan – and already do – perpetuate biases and discrimination, unintentionally or not. This adds legal issues to the ethics ones.
Loss of Control
As AI systems become more autonomous and capable of making critical decisions without human intervention, it becomes harder to maintain steady leadership and management This is exactly the essence of that famous scene in “2001: A Space Odyssey” when the computer, HAL 9000, first overrules a human, Dave, issuing the immortal “I’m sorry, Dave, I’m afraid I can’t do that.”
Reputation and Brand Damage
High-profile AI failures leading to public scrutiny and loss of customer trust can also damage shareholder value, the last thing any executive wants. The conundrum is at a fear of negative publicity and brand damage can deter executives from fully embracing AI or experimenting with innovative AI applications. But calm seas do not make good sailors, so this becomes an inflection point.
Cost vs ROI
Implementing AI involves significant investment in technology, talent, and infrastructure. Executives may be under pressure to deliver – prematurely – on this investment. Balancing the long versus the short term is every executive’s high wire act.
Coming Up Short In The War For Talent
The demand for AI talent – data science, machine learning, natural language, AI ethics – is exploding. Recruiting and retaining top AI talent is a priority for executives looking to harness the full potential of AI, but there are few, if any, reliable benchmarks for what makes for a top level AI professional.
Competitiveness
With the nature, pace, and scope of change – especially AI – today’s advantage could become tomorrow’s deficit – and just about that fast. The decision to either master what you know or leap ahead to keep up, is a tough one.
There’s an old quip that has it that George Washington said he had to be a good president because he didn’t have a previous administration to blame anything on. That’s probably not historically accurate, but (a) it’s cute, and (b) a good framework for understanding current executives’ challenges with AI.
There’s a lot of the unknown here.
