How multidisciplinary collaboration on Responsible AI shapes a future with confidence

Discover insights from our EY AI Talks event on Responsible AI.

In brief:

• Responsible AI requires collaboration and clear guidelines for successful implementation.
• The three R’s: Regulation, Reputation, and Realization are crucial for building trust in Responsible AI.
• Training and upskilling employees are essential to harness AI's opportunities and manage risks.

In the first edition of EY AI Talks, more than 160 business professionals gathered to explore the challenges and opportunities of Responsible AI. Insights from leading speakers in the Dutch business industry emphasized collaboration, clear guidelines, and the need for transparency to create a future where AI can be applied with confidence.

The necessity of Responsible AI

Menno: “Moderating a panel with industry leaders such as Joëlle van der Bijl from FrieslandCampina, Martijn Habing from ABN AMRO Bank N.V., Maribel Tejada from ING, and Melike Ozunlu from EY was truly inspiring. The diverse perspectives of the speakers highlighted the importance of the three R's: Regulation, Reputation and Realization in the realm of AI.

These are my key insights:

1. Collaborate across disciplines: Don’t try to do everything alone; cross-functional work is essential to harness the full potential of AI.
2. Invest in upskilling: Empowering your workforce with the right skills is crucial for successful AI-adoption.
3. Support employees: Providing access to AI-tools fosters innovation and increases efficiency.
4. Be pragmatic: Keep the end goal in mind. Remember, we are all on a journey focused on progress rather than perfection.
5. Align vision and execution: AI-adoption requires a top-down vision and bottom-up execution that are strongly aligned. A cohesive strategy is vital for effective implementation.

The panelists emphasized that reputation is intrinsically linked to trust, especially in the banking sector where AI is not a new concept. They highlighted the importance of modern riskmanagement practices that not only comply with regulations but also promote a holistic view of AI-integration. Organizations must focus on creating a robust framework that balances innovation with responsible practices, ensuring that customers feel secure using AI-technologies. The necessity of AI literacy and transparency was also discussed, as these are essential for building trust among stakeholders. By establishing clear ethical guidelines and maintaining open communication, organizations can enhance their reputation and mitigate the risks associated with AI. The members of the panel all agreed that Responsible AI is a journey requiring collaboration across various departments, reinforcing the message that no organization can tackle these challenges alone. As one panelist aptly noted, "Progress over perfection" is essential in this evolving landscape.

The EU AI Act and the role of regulation

Senior Policy Officer FinTech & Artificial Intelligence Frans van Bruggen from De Nederlandsche Bank delivered an impressive keynote on AI supervision and regulatory insights, emphasizing key risks, including bias, that organizations must navigate. He stressed the urgent need for effective regulation and governance in the rapidly evolving landscape of AI. He believes that organizations must acknowledge the risks associated with AI, uphold public trust through transparency, and explore innovative applications while adhering to ethical standards.

Framework

I also found it very interesting to leverage existing frameworks and processes. You don’t need to reinvent the wheel; simply assess what you already have and develop it to the next level. We must emphasize the importance of having a solid foundation by utilizing existing processes and frameworks. This serves as your groundwork, and from there, we can aspire to the vision of eliminating repetition and achieving automated compliance—an admirable goal to strive for.

With these insights and experiences, we reflect on a very successful event that not only shared knowledge but also laid the foundation for future collaboration and innovation in AI. The event was described as a deepdive knowledge session, highlighting the focus on content and the openness in knowledge sharing, which made it very constructive. The emphasis on Responsible AI, transparency, and collaboration is crucial for navigating the complex world of artificial intelligence. With the right approach and mindset, organizations can harness the opportunities of AI while managing the risks. We look forward to continuing the conversations and are excited about the next event. This reaffirmed: collaboration creates confidence and shapes the future!”

With EY AI Talks, you stay updated on the latest AI developments and meet leading industry experts. Don’t want to miss the next edition? Sign up for our AI Talks newsletter.