Unveiling the commercial value of the responsible use of AIPosted 12 Mar 2021
This report showcases the collaborative work between Loomi, an artificial intelligence (AI) startup, and Digital Catapult and its Ethics Committee. The Loomi team focused on machine learning to offer virtual personal assistants and other highly specialised language processing services. This deep-dive highlights the value that responsible approaches offer businesses developing AI products and demonstrates how long term commitment to ethical processes or methodologies can help AI companies to achieve positive commercial outcomes.
The importance of using AI responsibly for AI companies is highlighted within the report. The deep dive, a part of Digital Catapult’s responsible use of AI portfolio, offers companies guidance to critically evaluate the design, development and deployment of AI solutions. Whilst it is hoped that companies will be interested in aiming to do ‘good’ in society, this report illustrates how ethics also serves a utilitarian, commercially driven function for scaling AI companies.
As the case study demonstrates, it is evident that strong ethics can contribute to an expansion in customer base, enhanced predictive accuracy and valuable user-centric design choices. Through this report, it displays the value that startups can achieve by considering ethics from the outset and the help Digital Catapult provides in achieving this.
For more information and to read the report in full, access the publication below.