EY Survey Highlights Benefits of Responsible AI Governance

EY has released findings from its second Responsible AI (RAI) Pulse survey, indicating that companies implementing advanced RAI measures are experiencing notable business benefits. Announced in a press release, the survey shows that organizations with real-time monitoring and oversight committees report improvements in revenue, employee satisfaction, and cost savings.

The survey, conducted among 975 C-suite leaders across 21 countries, highlights that nearly four in five respondents have seen enhancements in innovation and productivity. Additionally, about half of the companies reported boosts in revenue growth, cost savings, and employee satisfaction. The findings suggest that adherence to RAI principles correlates with positive business performance.

However, the survey also reveals challenges, such as inadequate controls for AI risks leading to financial losses. Almost all organizations surveyed reported financial losses from AI-related risks, with common issues including non-compliance with AI regulations and biased outputs. The survey underscores the importance of robust governance and visibility in managing AI adoption effectively.