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From AI compliance to competitive advantage

Report from Accenture

In brief

  • As companies deploy AI for a growing range of tasks, adhering to laws, regulations and ethical standards will be critical to building a sound AI foundation.
  • 80% of companies plan to increase investment in Responsible AI, and 77% see regulation of AI as a priority.
  • Most companies (69%) have started implementing Responsible AI practices, but only 6% have operationalized their capabilities to be responsible by design.

The rewards of Responsible AI

In a recent report, The Art of AI Maturity, Accenture identified a small group (12%) of high-performing organizations that are using AI to generate 50% more revenue growth while outperforming on customer experience (CX) and Environmental, Social and Governance (ESG) metrics. Among other success factors that have a combinatorial impact on business results, these Achievers are, on average, 53% more likely than others to be responsible by design. That means that they apply a responsible data and AI approach across the complete lifecycle of all their models, helping them engender trust and scale AI with confidence.

Being responsible by design will become more beneficial over time, especially as governments and regulators consider new standards for the development and use of AI. Countries such as the United Kingdom, Brazil, and China are already taking action, either by evolving existing requirements related to AI (for example, in regulation such as GDPR), or through the development of new regulatory policy.

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