The Role of AI Ethics in Cost and Complexity Reduction

The Role of AI Ethics in Cost and Complexity Reduction

Muhammad Usman Tariq
Copyright: © 2024 |Pages: 20
DOI: 10.4018/979-8-3693-2643-5.ch004
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Abstract

This chapter underscores the intrinsic connection between AI ethics and contemporary business dynamics, elucidating how ethical considerations can serve as facilitators for cost control and operational simplification. It offers a comprehensive exploration of how corporations can harness ethical principles to augment efficiency, transparency, and sustainability. This exploration delves into the impediments, strategic methodologies, and tangible benefits associated with the ethical deployment of AI. Commencing with a succinct overview of AI ethics, the chapter delineates key concepts, notably responsibility, justice, and transparency, thereby establishing a foundational understanding of their pivotal significance across diverse business scenarios. The intricate correlation between AI implementation and cost management is accentuated, with a focal point on how ethical AI practices contribute to cost savings and operational streamlining.
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Overview

Artificial Intelligence (AI) has undergone a transformative impact on corporate operations, presenting both unprecedented opportunities and challenges. At the heart of this paradigm shift lies the ethical dimension, recognizing that ethical business practices are intrinsically tied to the responsible use of AI. This chapter delves into the pivotal intersection of business operations and AI ethics, elucidating the role of ethical considerations in the realms of cost control and operational simplification.

The Ethical Foundation of AI

A comprehensive exploration of AI ethics lays the groundwork for this discussion, grounding the discourse in fundamental concepts such as responsibility, justice, and transparency (Johnson, 2019; Floridi et al., 2021). By establishing this ethical framework, the chapter sets the stage for a nuanced understanding of the intricate interplay between AI implementation and cost management across diverse corporate activities (Tariq, 2024).

Cost Control and Operational Challenges

A central focus of this discourse revolves around the intricate relationship between cost management and AI implementation. Scholarly studies posit that ethical AI practices hold substantial potential for significant cost savings and the simplification of operational complexities (Chen et al., 2020; Diakopoulos, 2016). The primary objective of this chapter is to underscore the pivotal role of ethical considerations in mitigating financial and reputational risks, examining the pitfalls associated with unethical AI practices, such as biased algorithms, data breaches, and a lack of accountability (Jobin et al., 2019; Mittelstadt et al., 2016; Raimi et al., 2022).

Strategies for Ethical AI Integration

Subsequently, the chapter meticulously scrutinizes tactics for the seamless integration of ethical AI into corporate processes. This involves the establishment of AI governing bodies, the formulation of AI ethics guidelines, and a strong emphasis on audits and evaluations (Wachter et al., 2017; Taddeo & Floridi, 2018). These methodological approaches have the potential to yield economical and effective corporate operations, thereby reducing risks and fostering sustainable growth, as evidenced by practical insights (Tariq, 2024).

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