Ernst & Young published the results of its Responsible AI Pulse survey, which found that organizations that institute good AI governance practices are achieving better business outcomes. Survey results showed 81% of respondents reported their company improved innovation, efficiency and productivity gains. However, 99% of organizations reported financial losses from AI-related risks, with 64% of which sustaining losses exceeding USD1 million. The most common AI risks reported were noncompliance with regulations at 57%, negative impacts to organizational sustainability goals at 55% and biased outputs at 53%.|
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