Unleashing AI’s Potential to Shape Responsible Business

Tania Alim

• Uncategorized
• Healthy_Business
• Responsible AI

From automating routine tasks to revolutionising healthcare and transforming customer experiences, artificial intelligence (AI) is poised to reshape the future of work and life. However, with such power comes immense responsibility. Businesses must ensure that AI is used in ways that are ethical, inclusive, and sustainable. Business in the Community’s (BITC) recent Lifting Up the UK: State of the Nation Report 2024 revealed that 55% of CEOs and board members surveyed, from the UK’s largest businesses, see adapting to new technologies or implementing generative AI as a top challenge. In this blog, we will explore the broader impact of AI on society, the environment, and wellbeing, focusing specifically on its influence on responsible business practices.

The Role of AI in Promoting Diversity and Inclusion

AI offers incredible potential to promote Diversity and Inclusion (D&I) in the workplace by creating fairer hiring practices and reducing unconscious bias. AI-powered tools can help to analyse resumes without gender or racial prejudices or support personal development plans for employees from diverse backgrounds, ensuring equal opportunities for all employees. For example, Accenture leverages AI to monitor more than 8,000 skills within its skills library and uses this data to match employees with relevant projects and career opportunities, as well as to tailor learning and development programmes.¹

However, if not designed responsibly, AI systems can perpetuate existing biases, as they may unintentionally mirror historical inequalities present in data. Businesses must ensure that these systems are optimised to foster diversity and fairness, rather than reinforce harmful stereotypes or discrimination.

Read more about AI and Inclusion in BITC’s blog ‘Can AI Be a Force For Good or Will It Widen The Inequalities Gap?’ and our factsheet on the ‘Gendered Impacts of AI’.

The Environmental Impact of AI and its Role in Sustainability

Data centres account for a large portion of global energy use, with research highlighting the rising use of AI as a key factor². On the other hand, AI can positively contribute to sustainability in several ways. In agriculture, it can help to improve resource use and reduce waste, whilst in energy, AI can help to optimise grids and predict demand, thereby lowering carbon footprints. For example, EDF built a winter turn-down tool to support National Energy System Operator’s (NESO) demand flex scheme, which shows how customers can cut energy use and potentially reduce bills³. AI can also minimise manufacturing waste by enhancing supply chain efficiency.

For businesses, the responsible adoption of AI means investing in energy-efficient AI models, optimising hardware and algorithms to reduce data storage and carbon emissions and aligning AI initiatives with broader corporate sustainability goals.

Enhancing Wellbeing through Responsible AI

AI can affect wellbeing both directly and indirectly. For example, in healthcare, AI can help diagnose diseases, recommend treatments, and improve patient outcomes. For example, GSK is using AI to analyse vast sets of biological and genetic data in their development of new medicines and vaccines⁴. AI can also help monitor mental health, providing individuals with personalised resources for managing stress, anxiety, and other conditions.
However, as AI becomes increasingly embedded in daily life, concerns grow about its potential negative effects on wellbeing – especially mental health. The rise of automation and AI-driven systems may lead to job displacement, social isolation, and increased inequality. Businesses must focus on creating AI applications that prioritise workers’ wellbeing, such as training and upskilling programmes to help employees adapt to new roles in an AI-driven economy.

The Path Forward: Embracing Responsible AI in Business

Responsible AI involves developing AI systems that are transparent, ethical, and considerate of their broader social, environmental, and economic impacts. However, while work has started on ensuring these systems are developed responsibly, as AI continues to evolve, businesses must take a proactive approach to ensure that its deployment benefits society as a whole. To address this, BITC are launching a Responsible AI Lab. This groundbreaking initiative will unite leaders from business, government, academia and community groups in a series of collaborative workshops hosted at Verizon’s London Hub, an immersive space designed to foster innovation. The workshops will culminate in a Responsible AI Blueprint, a comprehensive guide for businesses on how to adopt and integrate AI responsibly, featuring case studies from leading businesses and actionable solutions. As with BITC’s Responsible Innovation Framework, we are applying a stakeholder-centric process to ensure inclusive solutions are developed.

We are thrilled to partner with Verizon, our lead sponsor, and Grant Thornton and Pinsent Masons as pioneering leaders in this venture. Together, our goal is to inform and empower businesses across the UK to consider the impact of AI on their responsible business strategies and take proactive steps towards integrating ethical AI practices into their operations, ensuring long-term sustainability and positive societal impact.

“At Verizon, we are committed to driving progress for all by expanding digital access, protecting the climate, and preparing people for the jobs of the future. We believe in democratising AI through stakeholder-led initiatives, exemplified by our AI Centre of Excellence (COE), a cross-functional model for responsible AI deployment within Verizon. Through our partnership with BITC, we are empowering businesses across the UK to assess AI’s impact on their operations and ensure its responsible and ethical implementation.”– Tony Judd, Managing Director UK & Ireland, Verizon.

“AI has incredible potential in supporting our strategy of Everyday Inclusion. For example; it can help to debias hiring practices if it’s designed responsibly in an ethical and inclusive way. We also know AI systems can unintentionally mirror historical inequalities and it’s important we all work together to ensure systems are optimised to promote inclusion. We are excited to join BITC’s AI Lab initiative to continue our commitment to harness the power of AI in a safe, responsible, secure way.” – Jenn Barnett, ED&I and ESG Lead, Grant Thornton UK LLP.

“Pinsent Masons is committed to exploring the potential of AI in the legal sector, but to do so, we must consider the ethical implications of generative AI. Being part of BITC’s AI Lab will allow us to continue to take a leading role in shaping what responsible AI use looks like, both in our sector and beyond.” – Clare Francis, Partner, Pinsent Masons LLP.

Next steps

Don’t miss this unique opportunity to be at the forefront of shaping AI’s role in society, ensuring it empowers businesses to create positive and lasting impact. Register your interest and a member of the team will be in touch to discuss how your business can get involved.

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References

¹ How the Best Companies Are Using AI to Upskill Employees | Great Place To Work®
² World Energy Outlook 2024 – Analysis – IEA
³ EDF UK uses the Snowflake Data Cloud to power machine-learning innovation
⁴ AI Home – GSK