Introduction

As artificial intelligence (AI) continues to evolve, investors are increasingly pouring money into AI companies. But how can they ensure that AI is developed and deployed safely and responsibly?

Understanding the Risks

Judy Wade, managing director at CPP Investments, emphasizes the importance of focusing not just on AI development by major players like OpenAI and Meta, but also on its deployment in the real economy. This is where both the benefits and potential risks are most pronounced.

“AI is going to, it already has enormous benefits, but there are significant risks. And if you want to take advantage of those enormous benefits and mitigate those risks, then you really have to deploy this responsibly.”

Wade co-authored The Responsible AI Playbook for Investors, a guide to help investors navigate these challenges.

Benefits for Investors

Investors need to consider long-term sustainable returns. Wade points out that biased data could exclude potential customers, impacting market reach and profitability. Thus, responsible AI deployment is not just ethical but also economically advantageous.

Beyond Compliance

While regulations are evolving, Wade stresses that responsible AI goes beyond legal compliance. It involves risk mitigation and gaining competitive advantage through unbiased data and robust models. Transparency with consumers also enhances brand reputation.

For more insights, listen to the full discussion on Radio Davos via this link or watch on YouTube.

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