The Imperative for Ethical Considerations in AI Adoption

By Dr. Ebenezer Onyeagwu

Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF) aptly characterised the Fourth Industrial Revolution (4IR) as the widespread integration of digital technologies into everyday life. This ongoing revolution is marked by a significant convergence of the physical and digital worlds, powered by widespread connectivity, virtual reality, artificial intelligence (AI), robotics, and cloud computing. Among various technological innovations contributing to the 4IR, many consider AI to be at the heart of this disruption.

The swift adoption of AI is reshaping the global economy, permeating virtually every sector and altering how we learn, work, trade, socialise, and access public and private services and information. In the private sector, business leaders are utilising AI capabilities to drive growth, encourage innovation, and enhance productivity. According to the International Data Corporation (IDC), global investment in AI systems exceeded $50 billion in 2021, mainly directed towards research and development, and is projected to reach $110 billion by 2024. Several nations have established AI strategies in the public sector, encompassing investment, incentives, and talent development, to improve public services and advance their capabilities.

While AI adoption accelerates at an unprecedented pace with substantial potential benefits, rising concerns over its social, economic, and environmental impacts stemming from unethical design, inappropriate application, or misuse cannot be overlooked. The disruptive changes brought on by AI adoption instigate immediate and future concerns about its effects on data privacy, surveillance, job security, inequality, human psychology, and bias and discrimination. This highlights the necessity for ethical considerations in AI adoption across businesses and governments to prevent these unintended negative consequences and risks.

Encouragingly, several public entities and international organisations across countries are providing or working on guidelines for ethical AI development and adoption. These entities include the US National Artificial Intelligence Advisory Committee (NAIAC), the Organisation for Economic Co-operation and Development’s (OECD) AI expert group, the European Commission’s High-Level Expert Group on AI, and the UK Parliament’s House of Lords Select Committee on AI. Similarly, private sector companies leading AI development, like Microsoft and Alphabet, have released guidelines for ethical AI development.

However, such efforts must be replicated at the national level, especially for countries like Nigeria that have yet to formulate such regulations. Establishing a clear and fitting AI regulatory framework will ensure organisations consider the implications of AI systems for stakeholders and make decisions with potential effects in mind. Moreover, organisations should commit to responsible AI practices in response to the increased stakes around AI adoption.

Indeed, the urgency for ethical considerations in AI adoption cannot be overstated. As AI systems become more sophisticated and integrated into our lives, they will inevitably shape societal norms, behaviours, and values. Hence, we must ensure these systems are designed and implemented to uphold and promote ethical standards, safeguarding human rights, privacy, and equality.

It is also essential to foster a culture of transparency and accountability in AI development and deployment. As AI systems often operate as ‘black boxes’, their decision-making processes can be opaque and difficult to understand. Encouraging transparency can enhance trust in AI systems, while accountability mechanisms can ensure that those who misuse AI or cause harm through its application are held responsible.

In addition to ethical guidelines, we need robust educational and awareness programmes to ensure individuals and organisations understand the ethical implications of AI. This will help in the responsible use and development of AI and enable informed public discourse on AI ethics and policy.

Finally, multi-stakeholder collaboration is key to ensuring ethical AI adoption. Governments, businesses, academia, civil society, and individuals must all play a role in shaping the ethical norms and standards of AI. This inclusive approach can ensure that the benefits of AI are broadly shared, and its potential harms are mitigated.

In conclusion, while AI offers enormous potential benefits, its adoption brings significant ethical considerations. By developing clear ethical guidelines, fostering transparency and accountability, promoting education and public awareness, and encouraging multi-stakeholder collaboration, we can harness the power of AI while minimising its risks. This is not just the best way forward – it is the only way forward.

Dr. Ebenezer Onyeagwu is the Group Managing Director/CEO of Zenith Bank Plc and Chairman of the Body of Banks’ CEOs in Nigeria.

This opinion was first published in the Zenith Economic Quarterly Vol. 19 No. 2 April 2023, in his column “CEO Insight”.