The survey watched how companies set up an internal inspection for which EY uses the term “responsible AI”. Losses are higher where this control is insufficient. This July and August from 975 executives overseeing artificial intelligence in companies around the world, it was awarded to EY in July and August with an annual turnover of over a billion dollars.
Companies that have lost more than ten million dollars due to the AI risks indicate that they have introduced an average of 4.5 out of ten control mechanisms that Ey monitored. Those who lost a million dollars or less have introduced an average of 6.4 of these mechanisms.
“This shows the need for a targeted increase in the qualifications of executives. Mainly because the financial and reputation costs associated with the risks AI continue to increase,” the company said.
Despite losses, companies continue to be optimistic that the introduction of artificial intelligence will bring significant advantages. “It improves efficiency and productivity, people do more and faster. But the acquisition lags behind, the profits are reinvesting in further work, not to reduce costs or increase sales,” said Global Ey innovation director Joe Defe to Reuters.
EY is located in London and together with Deloitte, KPMG and PWC belong to the large four global companies focused on accounting consulting.
