“From shaping our future to challenging our perceptions, Artificial Intelligence (AI) has emerged as the technological revolution’s ultimate wild card.” One thing is certain as we navigate this uncharted territory: humans have conscious and unconscious biases that play a critical role in the ethical landscape of AI.
The potential for AI to produce objective and ethical outcomes may look enticing, but it conceals a profound quandary. Setting ethical principles for AI is a Herculean undertaking due to the subjectivity of ethics, the ever-changing nature of ethical norms, and the lack of a standard definition of fairness. To achieve a fair and equitable AI-driven world, we must examine how subjectivity impacts our notions of justice and seek novel ways to ensure that ethics remain at the center of AI development and deployment.”
The Subjectivity Experiment
The FIFAI (Forum for International Finance AI) paper acknowledges that ethics is inevitably subjective in the fast-expanding field of AI. Realizing that ethical norms grow through time and become laws and regulations adds to the complexities of dealing with AI ethics. What one person considers to be fair may differ from what another considers, to be honest, and these ideas may even shift when placed in other settings.
There are heated disputes in AI about the relationship between ethics and AI legislation, regulatory guidance for AI ethics, obstacles in addressing AI ethics, and the standardization of a universal notion of fairness. Some wonder if a “biased model” is inherently harmful or can be helpful in some situations. These varied debates shed light on the complex nature of ethics and how it intersects with AI.
The Pursuit of Fairness: A Difficult Task
The illusive concept of fairness arises as a significant element in the subjectivity of ethics. Due to the lack of a general definition of fairness, separate criteria for distinct contexts must be developed. The potential alternatives here are nearly unlimited, necessitating close examination to understand fairness in judgments based on AI-generated outcomes. Financial institutions, in particular, must define what constitutes “fair” based on the unique use of an AI model. While it may appear fair for everyone to pay the same vehicle insurance rate, bias may be essential and desired in some instances. Ethics encompasses various complexities, from relative ethical concepts and ideals to variances in applying ethical standards among jurisdictions and within organizations.
The Look for Solutions
- Multidisciplinary Perspectives: Bringing together various teams of computer scientists, attorneys, financial data scientists, and ethicists at all phases of AI development and use generates broad perspectives and thorough evaluations.
- New Roles: Organizations can reinforce their commitment to AI ethics by establishing new positions, such as Chief Ethics Officer or Chief Trust Officer, emphasizing the importance of ethical issues.
- Standards and principles: By establishing agreed-upon ethical principles through standards-setting agencies and professional groups, the financial services industry may better manage the risks connected with AI technologies. Existing examples, such as the minimum ethical standards of the Canadian Institute of Actuaries, indicate the possibilities of voluntary or mandated norms.
- AI Designation: Introducing a designation that needs ethical training guarantees that ethical considerations stay at the forefront of AI system design, development, and implementation.
AI Ethics in Practice
The importance of operationalizing AI ethics cannot be overstated. Ethics should never be an afterthought in AI development but rather an intrinsic component. Maintaining internal and external transparency through disclosure is critical in ensuring high ethical standards for AI models. As ethical norms grow, it is vital to document the reasoning behind decisions to adapt and remain aligned with the evolving ethics landscape.
Conclusion
To navigate the difficulties of AI ethics, a collaborative effort is required to address subjectivity, define justice, and accept novel solutions. As artificial intelligence continues to impact our society, we must be attentive in prioritizing ethics to guarantee that this transformative technology is consistent with our shared values and objectives. The path to an AI-driven future marked by trust, fairness, and responsibility necessitates ongoing collaboration, contemplation, and adaptation. The subjectivity wild card will continue to pose challenges. Still, we can steer the course toward a brighter AI-powered future by embracing diversity, fostering transparency, and maintaining an unshakable commitment to ethics.
If you’d like to share your ideas, please do so in the comments section below. Similarly, if you or your organization want to go deeper, please get in touch with Chuck Gallagher at Chuck@ChuckGallagher.com or 828.244.1400. Chuck is constantly involved in providing live interactive AI programs for businesses worldwide.
