Most organisations believe their AI systems align with Australia’s AI Ethics Principles. Unfortunately, less than a third of them have implemented the necessary practices to achieve that ambition, according to the of the 2024 Responsible AI Index 2024 report by National AI Centre and market research consultancy firm Fifth Quadrant.
This gap between perception and practice when it comes to AI is a running theme: 91 per cent of Australian workers say they are confident they can adapt to the changes AI will bring to their job.
The Responsible AI Index aims to take a comprehensive look at how Australian organisations are adopting and implementing responsible AI practices. This year, it also found that SMEs need more support to fully adopt responsible AI, though AI standards and Australia’s AI Ethics Principles are influencing SMEs to adopt responsible AI practices.
Also noteworthy in the report is the finding that organisations leading in responsible AI practices are more likely to have business leaders who are driving AI strategy, thus ensuring strategic oversight and accountability. It also states that for these organisations, there is a greater appreciation of the competitive benefits being offered, including reputation, innovation, operational efficiency and talent acquisition.
The report was prepared from the insights of 413 executive decision-makers who were surveyed and identified as the ones responsible for the AI development within their respective organisations. The decision-makers came from across various industries such as construction, financial services, government, health, education, telecommunications, retail, hospitality, utilities and transport.
The findings come in conjunction with a recent report published by US business process outsourcing company Acquire BPO, which noted the risks businesses face if they do not follow responsible AI practices. The 2024 AI in Customer Service Survey revealed that 70 per cent of consumers would take their business elsewhere if they experienced just one bad experience with an AI chatbot.
The Acquire report noted as well that 57 per cent have indicated their preference for chatbot support, though 72 per cent still prefer human interaction.
In a related development, the Australian Government is said to be working on standards and guidance to benefit Australian businesses to adopt AI safely and responsibly.
