Who should bear the burden of the AI implementation?

The term ‘Corporate Social Responsibility’ may sound a bit 1990s, but the idea behind it is simple and transferrable – it focuses on offsetting the negative impact of one’s operations. When discussing AI implementation, there is an ongoing debate on its negative effects and the multiple risks that it brings to the table.

At the recent Canada Growth Summit, Bank of England’s Mark Carney raised a concern about massive job losses and how they may lead to a rise of Marxism.

What is troublesome to him, is that AI will not only take away manual labour tasks but also have a huge impact on roles that you’d perhaps consider to be immune from automation, for example, the positions of lawyers and bankers. As a result, the risk of wide-scale unemployment increases.

Of course, AI implementation comes with some serious consequences and leaves us with many questions, such as who should be held responsible for dealing with any negative outcome.

• The companies that are working on AI?
• Businesses that are benefiting from the use of AI?
• Governments?

Referring to Kevin Green’s recent Ted Talk (Why our jobs matter now more than ever before), it might be the final call to start asking some uncomfortable questions.

How are you preparing yourself for the AI revolution?

In a world increasingly shaped by rapid technological advancements, keeping an eye on the AI revolution is paramount for individuals aiming to thrive in the evolving job market.

How is your organisation adapting to this massive leap in technological progression?

For businesses, adapting to the AI revolution involves more than just incorporating cutting-edge technologies. It requires a strategic shift in organizational culture, fostering innovation, and creating a workforce that is not only tech-savvy but also agile in responding to dynamic market changes.

And, most importantly, what we, as a society, can do to help preserve a stable economic system for the next generations?

As a society, we must prioritize education and skill development, ensuring that individuals are equipped to harness the benefits of AI rather than being left behind by it.

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Georgina Trudgill is an Associate Director in the Finance division at Harvey John.

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