• About
  • Subscribe
  • Contact
Thursday, March 30, 2023
    Login
FutureCFO
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
No Result
View All Result
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
No Result
View All Result
FutureCFO
No Result
View All Result
Home Technology Artificial Intelligence

The AI trust crisis

FutureCFO Editors by FutureCFO Editors
February 27, 2020
AI

Image by Geralt_Pixabay

Many Asia-Pacific organisations are holding back their adoption of AI because of mistrust, potential bias, and a lack of transparency and explainability, said EY recently.

 “Dealing with AI solutions that span across different jurisdictions all with different privacy regulations and cultural norms of what is socially acceptable is not an easy task,” said said Christina Larkin, EY Oceania Assurance Digital Trust Leader.

To maximise the real value of AI, business leaders must first build trust with internal and external stakeholders to clear up doubts about the data being collected and used in their AI systems, she added.

EY did a poll on February 13 when it held a live AI webcast with 386 attendees in Asia-Pacific from Australia (62%), Singapore (10%), Hong Kong (5%), Malaysia (4%), New Zealand (4%), Philippines (3%), and China (2%). 

Outlying countries (10%) that attended include India, Indonesia, Japan, South Korea, and Thailand.

Poll highlights

  • When asked about their AI journeys, almost one-fifth of those polled (18.8%) expressed that they are exploring AI solutions that may be relevant to their industry. 
  • More than 40% of participants in Asia-Pacific are interested in exploring AI, but unsure on how to start using and implementing AI 
  • Transparency (28.6%), bias (24.1%), and explainability (22.6%) are the biggest barriers to trusted AI for Asia-Pacific organizations
  • Many believe process automation (52.3%) and generating new revenue potential through new products and processes (18.8%), will be the two main benefits of AI.

 With the correct context, AI can be used to not only add value to businesses, but also solve many issues in multiple sectors, EY noted. 

The mining sector, for example, utilises AI to provide precise algorithms to ensure minimal mistakes and foresee possible problems by predicting when workers will have issues with the trains that move materials from mines to the ships, said EY, adding that streamlining the workforce is also one of the major uses of AI. 

Related:  Mastercard teams with SAP Concur for automated expense and invoice management in APAC
Tags: artificial intelligenceAsia PacificEY
FutureCFO Editors

FutureCFO Editors

No Result
View All Result

Recent Posts

  • Bupa appoints interim CFO for APAC
  • Asia Pacific private equity deal value down 44% in 2022
  • Investment planning: Sustainability metrics to be CFO’s standard practice by 2026
  • Rein in rogue spending by automating accounts payable
  • Is your people strategy human enough?

Live Poll

Categories

  • Artificial Intelligence
  • Audit and Compliance
  • Automation
  • Big Data
  • Blockchain
  • Business Applications
  • Business Insights
  • Case Studies
  • Cloud, Platforms and Ecosystems
  • Competencies and Capabilities
  • Digital Transformation
  • eBooks and eBriefs
  • Finance Accounting and Reporting
  • Future Technology
  • General
  • Infographics
  • Leadership and Roles
  • Mergers and Acquisitions
  • Operational Accounting and Control
  • Operations
  • Polls and Surveys
  • Resources
  • Risk and Regulation
  • Strategies and Tactics
  • Tax Management and Optimization
  • Technology
  • Treasury and Cash Management
  • Videos/Tutorials
  • Webcasts/Podcasts
  • White Papers

Strategic Insights for Finance Executives

FutureCFO.net is about empowering the CFO and the Finance Team to take on the leadership position in the digitalization of the enterprise. It's more than just a portal for the exchange of industry best practices, it is about creating and growing a community of finance professionals able to share learned experiences, providing a platform for the current and next generation of finance leaders and professionals.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO
  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

No Result
View All Result
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In