Build consumer trust while protecting against the hazards and dangers associated with AI.
For businesses of all kinds, generative artificial intelligence is a vital component of innovation and expansion in the quickly changing business environment of today. The possibilities of GenAI are immense and revolutionary, ranging from improving consumer experiences to maximizing marketing and operational effectiveness. But with this authority comes the responsibility to make sure GenAI is applied morally and sensibly.
GoDaddy executives recognize the need of responsible AI, as stated in our recently published 2023 Sustainability Report. For this reason, we continue to be watchful in promoting continued discussion and reducing the hazards associated with GenAI, such as algorithmic bias and false information.
Recognizing AI’s potential influence
Adopting ethical AI for small businesses entails understanding how the technology affects clients, staff, and society at large. It also entails making certain that GenAI systems are developed and applied in a way that respects people’s privacy and is impartial, moral, and ethical. According to GoDaddy’s January 2024 study of over 500 small company owners in the United States, entrepreneurs are adopting and utilizing GenAI more and more to manage and expand their enterprises.
However, there have been several instances of AI gone wrong in the past few years, including discriminatory loan approval systems and biased recruiting algorithms.
Despite worries, GoDaddy’s poll revealed that small business owners are not really anxious. A higher percentage of respondents—89%—than in May 2023 (83 percent) stated they are not concerned about any unfavorable effects of utilizing AI technology for their company.
Several fundamental ideas that should direct small firms in their GenAI initiatives are at the heart of responsible AI, and these include:
• Fairness guarantees that GenAI systems do not prejudice people or groups according to racial, gender, or socioeconomic characteristics.
• Businesses need to be transparent about how they are using GenAI and the possible ramifications for stakeholders.
• Accountability entails taking responsibility for AI results, guaranteeing precision, and resolving unforeseen implications, such as the possibility of fabrication or delusions.
• Privacy is critical; companies need to protect the security and privacy of the data they utilize for GenAI applications.
By keeping these guidelines in mind, business owners may confidently maximize the potential of GenAI technology.
