Taking action

It is important that companies likely to be affected act promptly because implementing such a process does take some time. Failure to build such auditing and reporting capacities may bear a significant cost in terms of preventable harms, poorly defined lines of accountability, lower business resilience, and ultimately weak organizational capabilities to fulfil companies’ obligations.

Yet there are reasons to remain hopeful for companies willing to embrace responsible AI before they have to. Indeed, there is a growing body of evidence demonstrating that business leaders should embrace a form of technological social responsibility when it comes to AI, not only to protect their brand reputation but more importantly to build trust with their workers, consumers and society as a whole. This proactive attitude will make the difference between those adapting to win and those reacting to cope.