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On Thu, 23 Jan, 12:06 AM UTC
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85% Executives Are Unprepared to Implement Responsible AI: HCLTech-MIT Report
Additionally, agentic AI -- operating autonomously with minimal human involvement -- is gaining traction in lower-risk areas like IT operations. A recent study by HCLTech and MIT Technology Review Insights reveals that while 87% of business executives consider responsible AI principles critical, 85% admit they are not adequately prepared to adopt them. The report, titled Implementing Responsible AI in the Generative AI Age, was launched during the World Economic Forum's Annual Meeting in Davos. It highlights the widening gap between recognizing the importance of responsible AI and the ability to implement it effectively. Steven Hall, President of Europe and Chief AI Officer of ISG, remarked, "Everybody understands how transformative AI is going to be and wants strong governance, but the operating model and the funding allocated to responsible AI are well below where they need to be given its criticality to the organization." According to the reports, the key challenges hindering responsible AI adoption include, complexity of implementation, lack of expertise, operational risk management difficulties, regulatory compliance hurdles, and insufficient resource allocation. Despite these challenges, the study finds optimism as enterprises plan to increase investments in responsible AI over the next twelve months. Vijay Guntur, CTO & Head of Ecosystems at HCLTech, emphasised, "AI can be a tremendous force of positive change in businesses and society at large, but its full potential can only be realized when it can be trusted." The report provides actionable recommendations for enterprises, including: HCLTech has proactively established an Office of Responsible AI and Governance, led by subject matter experts with experience in frameworks such as NIST and the Europe AI Act. This office focuses on co-innovation, consulting capabilities, and intellectual property solutions related to responsible AI. The study surveyed senior business leaders across various industries worldwide and found that AI-driven transformation is progressing from proof of concept to wider adoption, with growing interest in applications across customer service, software development, and marketing. Additionally, agentic AI -- operating autonomously with minimal human involvement -- is gaining traction in lower-risk areas like IT operations. While half of the respondents feel confident in managing operational risks, fewer than 25% are prepared to address user adoption, change management, and bias-related issues.
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HCLTech and MIT Technology Review Insights report emphasizes urgency for enterprises to implement Responsible AI Principles
Study reveals while 87% believe responsible AI practices are critical to adopt, 85% of all business executives polled are not well prepared to adopt them A study by HCLTech, a leading global technology company, and MIT Technology Review Insights has revealed that while 87% of business executives believe that responsible AI principles are critical to adopt, 85% of all the executives say they are not well prepared to implement them. The findings reveal that despite the recognized importance of responsible AI, a significant gap exists between the acknowledgment of its importance and the ability to implement it effectively. The challenges attributed to the adoption vs preparedness gap include: Complexity of implementationLack of expertiseDifficulties in managing operational risksRegulatory compliance challengesInadequate resource allocation On a more optimistic note, the study revealed that business executives plan to increase investments in building responsible AI in the next twelve months. The report -- Implementing Responsible AI in the Generative AI Age -- was released at the sidelines of the World Economic Forum's Annual Meeting in Davos. It outlines the key challenges faced by enterprises as they integrate responsible AI, with major concerns including bias and fairness, data privacy and security, compliance with regulations, operational disruptions and user adoption. The report also details how organizations can integrate responsible AI effectively and sustainably following best practices to enhance readiness. The quantitative study is based on a survey of senior business leaders across multiple industries globally. Some of the key report findings: GenAI and AI-driven transformation are progressing from proof of concept to wider adoption, with executives acknowledging AI's potential to drive productivity and innovation in key business functions like customer service, software development and marketing.Responsible AI can provide competitive advantage. Most executives say their business will increase investments in building responsible AI in the next twelve months.Agentic AI, which operates autonomously with minimal human involvement, is being adopted and gaining traction in lower-risk areas, such as IT operations, where it can work alongside humans. While half of respondents are confident in managing operational risks, less than a quarter feel prepared to handle issues related to user adoption, change management and bias. Steven Hall, President of Europe and Chief AI Officer of ISG, whose advisory firm covers the AI space and who was interviewed for the report, said that although we all know AI is the most influential change in technology today, there is still a huge disconnect on how to embrace it. "Everybody understands how transformative AI is going to be and wants strong governance, but the operating model and the funding allocated to responsible AI are well below where they need to be given its criticality to the organization." Hall said. According to Vijay Guntur, CTO & Head of Ecosystems, HCLTech, "AI can be a tremendous force of positive change in businesses and society at large, but its full potential can only be realized when it can be trusted." Guntur continued that to support responsible AI adoption, the ethical use of technology and to close the "readiness gap" to widespread adoption and implementation, HCLTech has several key recommendations. First, companies should architect a robust responsible AI set of enterprise-guiding frameworks and capabilities that provide guardrails for trustworthiness, ethics, responsibility, safety and security, sustainability, regulatory compliance, change management and user empowerment. Second, organizations should lean into their tech partner ecosystems to pilot, test and learn to bring the most appropriate technologies and best practices together to move at pace. Third, establishing a dedicated team (or Center of Excellence) is advisable to act in a cross-functional driving role across the organization. HCLTech recently established an Office of Responsible AI and Governance led by SMEs with experience on NIST frameworks, the Europe AI Act, ISO, risk and compliance, ethics and bias mitigation. This office drives co-innovation and the development of consulting capabilities and intellectual property solutions, with a focus on Responsible AI and partnerships. For more information and to access the full report, please visit: https://www.hcltech.com/white-papers/implementing-responsible-ai-generative-age About HCLTech HCLTech is a global technology company, home to more than 220,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG and Public Services. Consolidated revenues as of 12 months ending December 2024 totaled $13.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.
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Implementing responsible AI in the generative age
To investigate the current landscape of responsible AI across the enterprise, MIT Technology Review Insights surveyed 250 business leaders about how they're implementing principles that ensure AI trustworthiness. The poll found that responsible AI is important to executives, with 87% of respondents rating it a high or medium priority for their organization. A majority of respondents (76%) also say that responsible AI is a high or medium priority specifically for creating a competitive advantage. But relatively few have figured out how to turn these ideas into reality. We found that only 15% of those surveyed felt highly prepared to adopt effective responsible AI practices, despite the importance they placed on them. Putting responsible AI into practice in the age of generative AI requires a series of best practices that leading companies are adopting. These practices can include cataloging AI models and data and implementing governance controls. Companies may benefit from conducting rigorous assessments, testing, and audits for risk, security, and regulatory compliance. At the same time, they should also empower employees with training at scale and ultimately make responsible AI a leadership priority to ensure their change efforts stick. "We all know AI is the most influential change in technology that we've seen, but there's a huge disconnect," says Steven Hall, chief AI officer and president of EMEA at ISG, a global technology research and IT advisory firm. "Everybody understands how transformative AI is going to be and wants strong governance, but the operating model and the funding allocated to responsible AI are well below where they need to be given its criticality to the organization." Download the full report.
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A recent study by HCLTech and MIT Technology Review Insights highlights a significant gap between recognizing the importance of responsible AI and the ability to implement it effectively in businesses.
A recent study conducted by HCLTech and MIT Technology Review Insights has revealed a significant disconnect between the recognition of responsible AI's importance and the readiness to implement it effectively. The report, titled "Implementing Responsible AI in the Generative AI Age," found that while 87% of business executives consider responsible AI principles critical, a staggering 85% admit they are not adequately prepared to adopt them 12.
The study identified several key challenges hindering the adoption of responsible AI:
Steven Hall, President of Europe and Chief AI Officer of ISG, commented on this disparity, stating, "Everybody understands how transformative AI is going to be and wants strong governance, but the operating model and the funding allocated to responsible AI are well below where they need to be given its criticality to the organization" 1.
Despite these challenges, the study found a silver lining. Many enterprises are planning to increase their investments in responsible AI over the next twelve months 2. This indicates a growing awareness of the need to bridge the gap between recognizing the importance of responsible AI and implementing it effectively.
The report also highlighted the progress of AI-driven transformation from proof of concept to wider adoption. There is growing interest in AI applications across various business functions, including customer service, software development, and marketing. Additionally, agentic AI, which operates autonomously with minimal human involvement, is gaining traction in lower-risk areas such as IT operations 13.
While half of the respondents feel confident in managing operational risks associated with AI, fewer than 25% are prepared to address user adoption, change management, and bias-related issues 1. This underscores the need for a more comprehensive approach to responsible AI implementation.
To support responsible AI adoption and close the "readiness gap," HCLTech has provided several key recommendations:
In response to these findings, HCLTech has established an Office of Responsible AI and Governance. This office is led by subject matter experts with experience in frameworks such as NIST and the Europe AI Act. It focuses on co-innovation, consulting capabilities, and intellectual property solutions related to responsible AI 12.
As Vijay Guntur, CTO & Head of Ecosystems at HCLTech, emphasized, "AI can be a tremendous force of positive change in businesses and society at large, but its full potential can only be realized when it can be trusted" 2.
The study's findings underscore the urgent need for businesses to bridge the gap between recognizing the importance of responsible AI and implementing it effectively. As AI continues to transform various industries, addressing these challenges will be crucial for organizations to harness its full potential while maintaining ethical standards and public trust.
Reference
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Analytics India Magazine
|85% Executives Are Unprepared to Implement Responsible AI: HCLTech-MIT Report[2]
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