Analytics and Artificial Intelligence are an increasingly ubiquitous part of society that are transforming the way we live and work. Today, many of the important decisions in both our personal and professional lives are influenced, or even taken, by algorithms - often without us fully realizing. These automated actions and decisions may make life easier, but at the same time, unexpected behaviors or results from automated systems have led to a healthy skepticism, or even mistrust, of AI systems. Without public confidence that AI is being developed and used in an ethical and credible manner, it will not be trusted, and its full potential will not be realized. Regulators have understood this, which is why current and future legislation sets the bar high for AI.
Increasing trust and generating long-term value from your data, analytics and AI solutions demands a holistic and organization-wide approach that activates a broad range of expertise.
In recent years stakeholders have come to realize that building AI systems is not the real challenge. Building and using them in such a way that one can rely on them with ease of mind? That's the real challenge.
Challenges
The ability to use digital information through smart systems has already been a key differentiator for companies for many years, but as this technological field matures, the critical success factor is no longer model performance, but is rapidly shifting towards being able to establish trust in analytics and AI amongst employees and customers, decision makers, and other stakeholders. Organizations cannot leverage automated decisions if their employees do not trust the systems behind them. Customers will not agree to allow their data to be used if they are uncertain that the algorithms are operating in their best interest or if they do not trust the purpose of data collection. Decision makers cannot entrust vital processes to a machine if they cannot guarantee maximum quality. And regulators will not allow ramshackle systems with opaque foundations and unethical intentions to interact with the public at large. So companies will be divided into two groups: those who can provide the right guarantees, who will find a broad and transparent field to create new opportunities for applications and efficiency, and those who cannot provide such guarantees, who will eventually lose access to these tools.
Increasing this level of trust and thus generating long-term value from your data, analytics and AI solutions demands a holistic and organization-wide approach that activates a broad range of expertise, and is certainly more than just ticking some boxes.
Companies need concrete answers to questions such as “which data do we collect and why?” and “why do we perform analytics and AI” that go to the foundations of their smart systems. At the same time, they need to address a myriad of detailed technical questions, be it about systems architecture, modeling, security, or legal issues. This requires configuring the organizational design to support a data-driven mindset, including governance bodies, processes, and auditable artefacts. This also means acquiring the right reflexes, at the right time, when creating and using AI systems, as well as ensuring the appropriate mix of personnel is available, with expertise in all the relevant aspects of a data-driven organization. All of this needs attention throughout the process, from the earliest point in defining the data and AI strategy, through to the creation and implementation of systems, after-care, and during the day-to-day usage within the company in the future.
How we can help
At KPMG, we take our One Advisory promise seriously: to be a one-stop shop providing access to the entire range of experts you need to ensure everything is in place to warrant trust in your organization and solutions.
KPMG has a history of building trust in business that goes back decades. Now, we are applying these capabilities to the topic of trustworthy AI. Our broad, cross-industry expertise is supercharged with an international network of data specialists and strategic relationships across the emerging technology landscape. We believe in combining the power of modern computer intelligence with a deep understanding of your needs. We’ll take the time to survey your business needs together, translating them into must-have applications that are aligned with your company’s DNA. Working shoulder-to-shoulder with clients, we believe in co-creating pragmatic solutions that can be trusted and generate tangible value for your organization and your stakeholders.
