Human Factor on Artificial Intelligence: The Way to Ethical and Responsible Economic Growth

Abstract

Artificial intelligence (AI) is substantially changing the world of business. The growth of AI and its impact on business and society are explored in this chapter, including dilemmas and emerging challenges, highlighting the existing gap in the adoption of ethical principles. The elements of human-centered AI (HCAI), such as privacy, explainability, equity, and fairness, are presented, analyzing its relevance in business. and how they need to be addressed to guarantee profitable investments in AI technologies. The aim of this book chapter is to present the essential knowledge needed by business about how to behave more ethically in AI development and deployment. In this regard, we discuss how to increase user confidence and usage of AI devices by presenting a best-practice guide to underscore biases and ensure fairness in AI-based products, exemplified in the financial and healthcare sector. Improving people’s understanding of how AI models operate and having a clear HCAI strategy that evaluates negative potential biases of AI systems will increase user trust, spread, and usage of AI devices, thus ensuring the full acceptance of AI in society, thus promoting human, economic, and institutional growth.