In a world dominated by emerging technologies, our reliance on artificial intelligence (AI) is becoming more profound than ever. During a recent keynote address at the AIBC Eurasia 2024 summit, Mokshita Vashisht, Manager of Digital Products and Transformation at PwC India, addressed a critical issue that often goes unnoticed – the blind acceptance of terms and conditions, relinquishing control over our data, choices, and emotions to technology. She emphasised the need to question who holds the other end of this technological power shift.
“We are handing over our data, our choices, even our emotions to technology every day. But have we ever asked who’s holding the other end?”
“Every emerging technology. And indeed, technology is making us more human. Artificial intelligence, for instance, has not only taken over the world drastically, but it has also become central to our lives.”
The integration of AI into our daily lives has undeniably brought about significant advancements, but it has also ushered in a wave of risks. Deepfake attacks, data leaks, and injection hacks have become commonplace, necessitating a proactive approach from business leaders, regulatory authorities, and individuals alike. PwC’s Global 27 CEO Survey highlighted that as generative AI gains momentum, concerns about cybersecurity, misinformation, legal liabilities, reputational risks, and biases are on the rise.
64 %of the global CEOs are concerned about cyber security risks, 52 % are worried about the spread of misinformation, while 46 % about legal liabilities and reputational risks. Another 34 % say that they are worried about the biases that are associated with artificial intelligence or generative AI under it.
However, amidst these concerns, there is a prevailing belief among global CEOs that generative AI presents more opportunities than risks (60%). The key lies in preparation rather than panic. The speaker proposed a three-step guide to building trust in AI.
“If we prepare and not panic, we can actually redefine the possibilities with generative AI. We can create more new value chains with it. And we can lead with trust.”
Step one is transparency and comprehension. Users should be made aware of how AI systems operate, including details about training data. This transparency builds trust by showing that there’s nothing to hide. Step two emphasizes ethical and responsible design, aligning AI systems with societal values and respecting privacy.
The final step, user-centric design, underscores the importance of placing users at the centre of AI development. Incorporating features like reinforcement learning and maintaining a human feedback loop ensures that AI aligns with user expectations and needs.
Vashisht concluded with a quote from Alan Turing, highlighting the journey ahead. The call to embark on this journey with trust as a compass reflects the belief that responsible AI usage can lead us to a future where technology becomes a force for good in the world.
As the AI landscape continues to evolve, it becomes imperative for individuals, organizations, and regulatory bodies to collectively adopt measures that promote transparency, ethical responsibility, and user-centricity. Only through such concerted efforts can we navigate the intricate path of AI development, realizing its potential benefits while mitigating potential risks.
Mokshita is? also featured in the Dubai issue of SiGMA Magazine, read her feature article in our digital magazine.
