AI Masterclass: Trust in AI is key

Ajay Bhalla, president of cyber and intelligence solutions for Mastercard, stresses the importance of making sure AI is used ethically and transparently.

According to Bhalla, the pandemic has prompted more businesses to embrace AI technology. It's accelerated the volume and pace of data creation as more people work remotely and use digital transactions. This means AI, in particular, will play a bigger role in our work and personal lives.

This growth, however, should be balanced by the need to build consumer trust. Bhalla cites a report, commissioned by Mastercard, that delves into the importance of the issue, with interviews from senior thought leaders, practitioners, and ethicists. He summarizes the report further:

Trust must be earned

• There's been too much focus so far on what AI can do, and not how it can do it. Organizations now need to demonstrate that their systems and algorithms are responsible, fair, ethical, and explainable (aka, trustworthy).
• Well-known cases of AI misuse have put a dent in this consumer trust, and people are more aware of data privacy and other issues these days...