The article also underscores the importance of transparency in GenAI development to build consumer confidence and strengthen brand reputation. It suggests that companies should inform consumers about the presence and purpose of GenAI in their platforms, how they’re using it to enhance the customer experience, and how they collect, use, and protect customer data. By adopting responsible AI principles, diligent governance, and following best practices, companies can leverage GenAI ethically, thereby building lasting consumer trust.
Key takeaways:
- U.S. President Biden’s October 2023 Executive Order on artificial intelligence sets standards for the ethical and responsible development of AI, challenging companies to develop GenAI solutions that respect consumer privacy, promote equity and provide transparency.
- Trust and transparency are essential in GenAI development to promote ethical practices, build consumer confidence and strengthen brand reputation.
- Companies need to create a comprehensive framework for ethical AI governance, covering the entire life cycle of GenAI, from data collection and analysis to content generation, delivery and evaluation.
- Companies should inform consumers about the presence and purpose of GenAI in their platforms and how they’re using it to enhance the customer experience. They should also disclose how they collect, use and protect customer data, as well as the benefits and risks of data sharing.