In a poll conducted by the IT trade association Nasscom, almost 60% of companies said they had implemented mature responsible AI (RAI) practices and policies or had taken official efforts to embrace RAI.
Additionally, according to a Nasscom survey released on Tuesday, 30% of organizations stated they have a rudimentary understanding of RAI imperatives but no clear strategy. The research is based on analyses of information gathered from a survey of more than 500 senior executives working for large companies, startups, and SMEs in India that are developing and using AI for commercial purposes. In terms of RAI acceptance, the research outlines the tech industry’s opinions of its main advantages and crucial areas for development.
According to the survey, the likelihood of large firms (defined as those with an annual sales of over Rs 250 crore) reporting advanced RAI practices is 1.5 times higher than that of SMEs and 2.3 times higher than startups.
Approximately two-thirds of companies in industries such as BFSI (banking, financial services, and insurance), TMT (technology, media, and telecom), and healthcare stated that they have either developed RAI procedures or taken official measures to embrace RAI.
The results of the poll also indicate that 89% of companies with established RAI processes and policies stated that they will keep funding employee education and sensitization to RAI compliance.
“2023 was definitely the year of AI and brought to the fore both opportunities and risks central to AI adoption,” stated Debjani Ghosh, president of Nasscom. It also sparked conversations about the importance of morally sound AI and how crucial it is to maintaining long-lasting relationships with stakeholders and upholding brand integrity. It is expected that the survey’s insights will spur the development of more robust industry policies and initiatives meant to guarantee RAI compliance.
For RAI adoption to be effective, leadership support is essential, and firms tend to favor top-down accountability for RAI compliance. According to the study, 69% of participants believed that the C-suite or board of directors at their organizations should bear the primary responsibility for RAI compliance.
