A recent study conducted by IBM has found that 7 out of 10 Indian CEOs believe that establishing trust in artificial intelligence (AI) is not possible without the implementation of effective governance measures. This highlights the importance of ethical guidelines and regulations when it comes to the use of AI technology in various industries.
The study also found that 91% of Indian CEOs consider data security and privacy to be key concerns when it comes to implementing AI in their organizations. This underscores the need for strong data protection measures to ensure that sensitive information is not compromised or misused.
Additionally, the study revealed that 89% of Indian CEOs believe that AI will significantly impact their business over the next few years. This indicates a growing awareness of the importance of AI technology in driving innovation and improving efficiency in various sectors.
Furthermore, the study highlighted the role of AI in helping organizations adapt to the changing business environment. 75% of Indian CEOs surveyed believe that AI can help their organizations navigate the complexities of the digital economy and stay competitive in today’s fast-paced world.
In order to build trust in AI, Indian CEOs emphasized the importance of transparency and accountability in the development and deployment of AI systems. By ensuring that AI technologies are ethically designed and used, organizations can build confidence among stakeholders and users.
The study also found that Indian CEOs are investing in AI technologies to drive growth and improve customer experience. 83% of CEOs surveyed are already using AI in their organizations, and 81% plan to invest more in AI over the next few years.
Despite the potential benefits of AI, Indian CEOs are aware of the challenges that come with implementing this technology. 67% of CEOs cited a lack of skills and talent as a major barrier to AI adoption, highlighting the need for training and upskilling programs to develop a workforce that is capable of leveraging AI effectively.
Overall, the study reveals that Indian CEOs acknowledge the transformative power of AI and recognize the importance of governance and ethical considerations in building trust in this technology. By addressing key concerns such as data security, privacy, and transparency, organizations can harness the full potential of AI to drive innovation and growth in the digital age.
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https://www.msn.com/en-in/money/news/ibm-study-reveals-7-out-of-10-indian-ceos-think-trust-in-ai-is-impossible-without-effective-governance/ar-BB1oPZZa
