Note: This article was written with the assistance of Artificial Intelligence.
Deltabase has recently launched its AI Code of Responsibility. You can read it here. In this article I reflect on what has driven Deltabase to put a code of responsibility in place, what are the important things to consider in creating a code, and what impact it is driving for our business.
Be trusted. Be credible. Deliver Results.
The first words I learnt as a young 20 something on Accenture’s graduate scheme.
With the accelerating growth of AI, it presents a golden opportunity for management consultants to discover and deliver new value creation opportunities for their clients and having the right framework to operate in can ensure that risks and pitfalls are foreseen ahead of time.
“44% of consultants struggle with integrating AI into their client-centric strategies” (Deloitte)
Examples of the pitfalls of AI are growing, and the effects are pervasive and impact the largest AI deployments. Examples have emerged over the last few years from Tesla Autopilot and its rising number of accidents to Microsoft’s chatbot that produced offensive content, Volkswagen’s Emissions Scandal (using AI algorithms to manipulate emissions tests), to IBM Watson and incorrect Oncology treatment recommendations, the list goes on. These negative consequences are directly impacting business results.
For management consultants the need to balance client AI requirements alongside ethical considerations will increasingly grow in complexity and in the words of Peter Thiel: “People are spending way too much time thinking about climate change, way too little thinking about AI”.
Those first words I learnt early in my career shaped how we at Deltabase have approached AI, and built out our code of responsibility to avoid these pitfalls and drive business results. Let’s consider each of these in turn, and impact it has driven on our approach.
Be Trusted
In the world of consulting and M&A advisory, clients expect more than just expertise; they demand transparency and accountability in the use of AI. They want to understand the processes and decision-making behind choices made.
Upholding transparency: Peeking inside the “black box” of AI. Clients expect to know how decisions are made, how data is used.
Our AI code of conduct is designed to promote teams to design their AI and wider systems with transparency in mind and ensure they are easily explained.
This ensures that AI-driven insights are not shrouded in mystery but presented in a clear, understandable manner.
Upholding Accountability: When AI systems are entrusted with crucial decisions, there must be accountability. Clients should have confidence that if something goes awry, there are mechanisms in place to rapidly address it.
Our code of responsibility aims to outline clear responsibilities and traceability through commitment and action to use AI responsibly mitigating against misuse, unwanted biases and discrimination as well as ensuring the integrity and provenance of data used as inputs are scientifically tested and assured.
For every stage of AI deployment from data collection to model training this ensures that if issues arise, they can be swiftly and responsibly addressed.
Ultimately, the goal is to build confidence and trust in the choices and results but also to ensure due consideration and process has been followed.
Be Credible
Many of our management consulting customers have a code of AI responsibility that is becoming fundamental to the ways of working but also demanded by their clients from the RFP through to project delivery, and in onboarding AI suppliers.
The term ‘Client-centric AI’, where AI solutions are tailored to an individual client needs, are becoming the norm and if you believe the statistics are 2.3 times more likely to exceed their financial targets (McKinsey & Company).
Companies that use AI to personalise client experiences are seeing revenue increase by 6% to 10% (KPMG).
In fact, Forbes reports that 53% of executives believe that AI can have a substantial impact on client relationships and satisfaction.
Our AI code of conduct helps keep alignment between ourselves and our management consulting customers ensuring we both stay credible and navigate the challenges together.
Deliver Results
Whether you follow ours or your own code of AI responsibility, companies with ethical AI practices are 20% more likely to deliver exceptional outcomes for clients (Boston Consulting Group) and their clients that adopt AI effectively could increase their profitability by an average of 38% by 2035 (Accenture).
You can see we love our statistics and benchmarks here at Deltabase! Writing a code of conduct is one thing, putting it into practice is another.
For us at Deltabase it isn’t a code but integrated into our ways of working and part of our culture.
If you don’t have one can you afford not to? And if you want one feel free to use or build on ours.
“Organizations that adhere to ethical AI practices are 38% more likely to build trust with their clients.” (PwC)
Be trusted. Be credible. Deliver Results.
If you would like to reach out and talk about our AI Code of Responsibility, how we use AI in our business, or find out more about Deltabase and our services, then please do get in touch and we’d be happy to talk.