Editorial
Hey there, fellow thinkers and innovators! Can we take a moment to appreciate just how much AI has penetrated our lives in the past year? From predictive text on our phones to the personalized recommendations on our favorite streaming platforms, it’s like we’re living in a sci-fi movie, right here in downtown Paris.
But let’s pause for a sec and ponder: is this AI revolution all sunshine and rainbows? Sure, it’s promising economic growth and better lives for us Aussies, but what about the darker side? When does AI cross the line and start doing more harm than good? It’s like having a shiny new tool in your shed—exciting, but potentially dangerous if not handled with care.
So, let’s talk about ethics. Are we really doing enough to ensure that our AI-powered gadgets and gizmos are playing nice? Are they respecting our rights and values? That’s what we’re diving into this edition of This Week in Consulting
We’re delving deep into ethical frameworks for AI, both locally and globally. It’s crucial to ensure that as we embrace AI’s power, we do so responsibly, weighing benefits against risks.
Plus, let’s not forget about people—how do we inject empathy and shared values into our AI endeavors? Also, we’re discussing how CFOs are leveraging AI for growth while addressing issues like bias and explainability. It’s all about striking that balance between innovation and accountability.
So, grab a cuppa, settle in, and let’s chat about the ethics of AI. We’re all ears—tell us how you’re keeping things ethical in your neck of the woods. Let’s spark some ideas and keep the conversation flowing.
Laurent THOMAS
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we’re delving deep into ethical frameworks for AI, both locally as well as globally.
This article by Minter Ellison discusses the rise of AI in Australian businesses, highlighting its potential benefits and ethical concerns. Frameworks for ethical AI use are being developed in Australia and Europe. Initiatives by companies like Microsoft and Google address ethical challenges. Minter Ellison’s Cyber Risk report offers mitigation steps for AI-related risks.
This week’s media
Every tool has potential, positive and negative, but how do you make sure your AI powered applications are enhancing your business or customer experience? In this video by IBM Technology, Morgan Carroll demonstrates how you might want to start thinking about the risks and benefits of using AI and make sure you deliver on the benefits of AI.
Thought Leadership
Accenture’s article explores how CFOs leverage AI for growth, addressing challenges like bias and explainability. They propose a four-pillar framework for Responsible AI adoption, ensuring ethical use and minimizing risks for businesses.
IBM’s article discusses AI ethics, emphasizing its importance in responsible AI deployment. It covers issues like data responsibility and fairness, highlighting guidelines and principles from the Belmont Report. The article also mentions organizations promoting ethical AI conduct.
Booz Allen Hamilton’s article discusses the dual nature of AI, highlighting its potential for good and harm. It emphasizes the need for proactive ethical considerations, empathy, and shared values within the AI community to navigate these challenges effectively.
Bain and Company’s article discusses the growing importance of ethical AI in telecom. With impending EU policy and investor pressure, companies must address bias and privacy concerns. Telcos need to prioritize ethical AI to differentiate and comply with regulations.
This week’s consulting news selection
Grant Thornton LLP, one of America’s largest providers of audit and assurance, tax and advisory services, has welcomed Chris Scarpa to the firm’s Asset Management industry practice in Philadelphia.|
MNP, one of Canada’s largest national professional services firms, has announced that it will join forces with the chartered professional accounting firm, BDG CPA Inc., effective June 1, 2024.|
FTI Consulting, Inc. has announced the appointment of Jiva J. Jagtap as Global Leader of the firm’s Private Equity service offering.|
Accountancy and business advisory firm BDO has invested further in its audit practice and continued to strengthen its advisory offerings with the announcement of two new partner hires – Jeroen Basten and Gemma Hoult.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.
