Building trust in AI: The urgent need for transparency to unlock real value

AI is rapidly becoming a cornerstone for businesses, pushing the boundaries of innovation and efficiency. Yet, despite its rapid growth, many individuals and organizations are still addressing fundamental concerns about transparency and trust. Questions about AI's decision-making processes, potential biases, and the reliability of its information without clear sourcing remain prevalent.

This struggle reveals a widespread AI readiness gap. Most companies worldwide report they are either unprepared to effectively use and integrate AI or not getting the anticipated value from their current AI initiatives. Narasimha Goli, CTO at Iron Mountain, highlights this issue: "Nearly two-thirds (64%) globally reported that their organisation's AI readiness is not as effective as it should be" and "Only 35% said their information management strategies in AI-readiness are consistently generating value."

Demonstrating AI transparency is now a strategic asset, not just a compliance matter. Businesses that prioritize showing how their AI systems operate and arrive at conclusions will be better positioned to earn crucial trust and foster sustainable growth.

You can read the full article on Business Quarter here.