AI bias, accuracy worries most CEOs, IBM study finds

Global AI governance concerns: CEOs worldwide are increasingly focused on addressing accuracy and bias issues in artificial intelligence systems, according to a recent survey conducted by the IBM Institute for Business Value.

• The survey, conducted in partnership with Oxford Economics, gathered responses from 5,000 executives across 24 countries in North America, Latin America, Europe, Middle East, Africa, and Asia.
• Nearly half of the CEOs surveyed expressed concerns about accuracy and bias in AI systems, highlighting the growing awareness of these issues at the highest levels of corporate leadership.
• Only 21% of executives reported that their organization’s AI governance maturity is systemic or innovative, indicating significant room for improvement in this critical area.

Key governance practices: Organizations are implementing various measures to address AI-related concerns and establish responsible development practices.

• 60% of C-suite respondents have placed clearly defined generative AI champions throughout their organizations to oversee AI initiatives.
• 78% of executives maintain robust documentation, emphasizing the importance of explainability in AI systems.
• 74% conduct ethical impact assessments to evaluate the potential consequences of AI implementation.
• 70% carry out user testing for risk assessment and mitigation, ensuring AI systems meet user needs and safety standards.
• A significant 80% of C-suite executives reported having a separate risk function dedicated to AI or generative AI usage.

Expert insights on AI governance: Industry leaders emphasize the importance of building strong cultural foundations and comprehensive frameworks for responsible AI development.

• Phaedra Boinodiris, IBM Consulting’s global leader for trustworthy AI, stressed the need for a robust governance framework that promotes accountability, transparency, and explainability.
• Boinodiris recommended several actions for business leaders, including increasing AI literacy across the workforce, aligning measurement systems with core values, and involving diverse, multidisciplinary teams in AI development and governance.

Maturity and governance correlation: IBM’s research suggests a positive relationship between an organization’s technological maturity and its prioritization of AI governance.

• 68% of CEOs in the survey emphasized the need to integrate governance upfront in the design phase rather than retrofitting it after deployment.
• Less technologically mature organizations and newer entrants to AI tend to struggle more with the complex choices involved in governance.
• IBM recommends flexible AI governance frameworks to help organizations adapt to changing markets, mitigate risks, and encourage greater adoption of AI technologies.

Broader implications: The survey results reflect the growing recognition of AI’s importance and the need for responsible development practices across industries.

• The findings align with another recent IBM IBV report, which found that 77% of business leaders believe generative AI is market-ready and that quick adoption is necessary to maintain competitiveness.
• As AI continues to evolve and become more prevalent in business operations, the emphasis on governance, ethics, and responsible development is likely to intensify.
• Organizations that proactively address these concerns and establish robust AI governance frameworks may gain a competitive advantage in the rapidly evolving AI landscape.