The “AI C-Suite Toolkit” was released by the World Economic Forum to assist executives in making Artificial Intelligence implementation decisions. The Toolkit takes a comprehensive approach to AI, taking into account a variety of factors that firms must consider when investing in AI. The emphasis is on the possible threats that these technologies pose, as well as how to ensure that they are used ethically and responsibly.
The ability to appreciate the art of the feasible with AI while detecting the main hazards it presents is a vital skill that leaders must master. In order to comply with impending rules and maintain customer trust, businesses must implement new data and AI risk management policies, processes, and technologies. The new toolbox is the outcome of a collaboration between many artificial intelligence researchers and leaders from various firms and industries.
It also expands on a prior World Economic Forum handbook aimed at corporate boards of directors. AI is similar to the Internet in that it appears to be optional until it is too late. Best Practice AI was honoured to offer our practical digital strategy and transformation experience working with CEOs throughout the world to this world-class initiative. To achieve data-enabled business model transformation, C-suite leadership is crucial, as is senior management learning to guarantee that it is done ethically and sustainably. Both are included in the Toolkit.
The AI C-Suite toolbox presents and addresses critical topics that business leaders should think about before investing in AI. These questions address AI and business strategy, the impact of AI on an organisation, AI maturity and organisational change, best practises for deploying AI, recognising and managing AI risks, and adoption of ethical and responsible AI practises and processes, among other topics.