Dive Brief:
- More than 2 in 5 C-suite executives say they have grown more concerned over regulation and its potential to delay adoption over the last six months, according to an IBM Institute for Business Value study published Wednesday.
- The fear can be attributed in part to lagging enterprise best practices. Most C-level tech execs admit their organization is trailing when it comes to deploying responsible AI practices at scale, the survey of 2,500 C-suite IT decision-makers found.
- Only half of the surveyed organizations address explainability principles of responsible AI and even fewer have delivered capabilities related to privacy, transparency and fairness.
Dive Insight:
As AI rule enforcement deadlines near in the European Union and regulation advances elsewhere, CIOs are starting to assess how compliance requirements will impact their plans.
New laws will likely require organizations to step up their existing practices around data, privacy and accountability, which could drive up costs as enterprises obtain outside counsel and pay partners to get the organization up to speed.
The C-suite and boards are watching AI projects unfold with waning enthusiasm as pilots fail to make it to the production stage and organizations grapple with adoption barriers.
Despite the challenge, most organizations are ramping up investments in the technology, putting pressure on CIOs to articulate the value of projects and, then, to show ROI.
