The World Economic Forum announces the launch of the Global AI Action Alliance

artificial intelligence

World Economic Forum Launches New Global Initiative to Advance the Promise of Responsible Artificial Intelligence

Artificial intelligence could contribute over $14 trillion to the global economy by 2035 while dramatically improving the lives of billions, but it will only achieve its potential if it is used responsibly. AI holds the promise of making organizations 40% more efficient by 2035, unlocking an estimated $14 trillion in new economic value. But as AI’s transformative potential has become clear, so, too, have the risks posed by unsafe or unethical AI systems.

The Alliance brings together over 100 companies, governments, civil society organizations and academic institutions to accelerate the adoption of AI in the global public interest. Members of the Alliance will work together to identify and implement the best available tools and practices for using AI ethically and maximizing its benefits to all members of society.

Recent controversies on facial recognition, automated decision-making and COVID-19 tracking have shown that realizing AI’s potential requires strong buy-in from citizens and governments, based on their trust that AI is being built and used ethically.

Recognizing this, over 175 organizations have proposed ethical AI principles. While this explosive growth in AI principles is welcome, it has created fragmentation. Further effort is required to translate these principles into practical tools for organizations to ensure AI’s positive future. More about international organizations HERE.

The Alliance brings together over 100 leading companies, governments, international organizations, non-profits and academics united in their commitment to maximizing AI’s societal benefits while minimizing its risks.

“AI holds the potential to deliver enormous benefits to society, but only if it is used responsibly. We are launching the Global AI Action Alliance along with our partners to shape a positive, human-centered future for AI at this decisive moment in its development,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

Source: World Economic Forum