The adoption of Generative Artificial Intelligence (GenAI) is becoming increasingly commonplace in our work, personal communication and decision-making processes, having a significant impact on everything from financial consulting to health advice. It’s also playing a crucial role in the automation of content generation. However, with AI integrating more and more into our daily routines, it’s crucial we consider the issue of trust.
A recent study carried out by Deloitte in Ireland, comprising over 2,500 participants, highlighted some interesting perceptions. More than half of the consumers surveyed, around 52%, trusted AI-generated advice related to health conditions. Interestingly though, trust dropped to 42% when doctors integrated AI capabilities into their medical advice. This signifies a rather interesting snapshot of public sentiment: while individuals are willing to trust AI to execute specific functions, trust wanes when individuals enlist AI-driven insights in their professional decision-making processes. It seems to suggest an underlying disquiet regarding over-reliance on AI by human professionals, potentially minimizing the value of their expertise.
GenAI refers to a particular type of AI that can generate novel content across a broad range of spheres based on their training data. From summarising news articles to suggesting investment opportunities or providing health consultations, GenAI is aiding people to make more educated decisions. Nearly three-fourths (73%) of participants in Deloitte’s Irish survey could trust AI to summarise news articles, and around 67% believed in its potential to create enhanced work experiences.
The capacity of AI is remarkable, leading companies across all sectors to invest substantially in its progression. The Irish survey offered by Deloitte sheds light on a prevailing mood of both optimism and prudence. While 73% of those surveyed presumed AI would enhance business products and services, only 57% thought that regulatory measures would boost their faith in AI utility. It suggests that while early adopters are openly embracing AI, there is a palpable level of scepticism among the broader public.
Earning confidence in AI is a necessity and not an assumption. This is where the importance of openness and oversight is highlighted. The AI Act introduced by the European Union is among the most extensive initiatives aimed at promoting responsible AI use. The Act seeks to establish a stronger operational framework for AI by classifying AI systems according to their risk and necessitating a clear explanation of their workings, a vital step in addressing issues such as data protection, privacy, and prejudice.
However, regulation is not sufficient on its own. Corporations also need to actively ensure that AI adoption aligns with trust principles. Our interactions with clients have shown that whilst they are eager to comprehend how AI can produce significant value throughout their companies, they also want to maintain control over it. Currently, client entities are shifting their gaze from the usual efficiency enhancements to a more tailored solution focusing on elevating the final user experience. This can range from producing tailored scripts for advertising campaigns to offering real-time support to staff.
We are also witnessing prominent investments into improving internal competencies by organisations through data modernisation, digital transformations, recruitment of new talent and upskilling of existing workforce.
It’s crucial to utilise AI as a supplement to human judgement, not a substitute. Every tool available, whether an algorithm or a hammer, can be used for good or bad. The challenge of building trust in AI remains a human one. There are notable concerns about the capability of AI to disseminate misinformation, but it’s crucial to remember these algorithms are created by humans.
Those utilising AI must understand that it can assist in identifying a disease, recommending therapy or enhancing time management, however, a qualified professional will always have to make the final call. This approach is about bolstering human expertise, not ousting it.
The public is keen about the potential of AI, but there are legitimate concerns about data security and privacy that require attention. It’s crucial for businesses to not only abide by regulations, but also invest in the creation of AI systems that are impartial, unbiased, and transparent in their operations. Human judgement is key here.
The focus of artificial intelligence discourse in the public eye is often centred around visible technologies such as chatbots, automated content production, and tailored recommendations. Nonetheless, AI is making significant changes within industries, changes that may not be as conspicuous but are powerful nonetheless. In the healthcare and finance sectors, for example, AI applications are revolutionising procedures by making use of vast volumes of data for efficient analysis. This allows medical professionals to create customised treatments and gives banks the ability to offer products that have been uniquely tailored through an extensive evaluation of customer data. In addition, AI’s automatic real-time price modifications based on data from customers and competitors is another noteworthy example.
However, new regulatory challenges have arisen due to these advancements, and systems like these are labelled as high-risk by the European Union’s AI Act, obligating them to stricter compliance regulations. This situation puts businesses in a position where they must balance innovation and regulation compliance meticulously.
The forthcoming era of AI is undoubtedly thrilling. If utilised appropriately, AI can equip professionals with the ability to make informed decisions swiftly and accurately. However, the achievement of AI will rely heavily on one crucial element: trust. To cultivate and sustain this trust, companies need to prioritise making AI more accessible and transparent. This involves providing clear explanations about its usage. A responsible AI usage combined with suitable safeguards and the preservation of human judgement as a core of the decision-making process, is pivotal to fully unlocking AI’s potential.
Emmanuel (Manny) Adeleke of Deloitte is at the helm of the AI and Data services delivery across Ireland.