With Artificial Intelligence (AI) being embedded into every business process and product, nearly 77% of business executives expect generative AI to have largest impact on their business out of all emerging technologies, 71% plan to implement their first generative AI solution within next two years, 64% believe that AI is key to competitive advantage, 92% think generative AI implementation introduces moderate to high-risk concerns and 47% are still at initial stages of evaluating risk and risk-mitigation strategies for generative AI (Source: 2023 KPMG Generative AI Survey – March 2023). As AI scales, companies are facing a growing number of challenges such as Trust, Compliance, Security & Privacy, Value and Speed. Responsible AI is an approach to design, build and deploy AI systems in a safe, trustworthy and ethical manner so that companies can accelerate value for customers, organizations and society with confidence.
