Artificial intelligence (AI) is changing how businesses operate. From automating routine tasks to analyzing massive datasets in seconds, AI has transformed industries like healthcare, finance, and manufacturing. Companies use AI to improve efficiency, reduce costs, and make smarter decisions with AI TRiSM. A 2023 McKinsey report reveals that 55% of organizations now use AI in at least one business unit or function, up from 50% in 2022 and 20% in 2017. However, as AI’s influence grows, so do concerns about its trustworthiness. Many AI models operate as “black boxes,” making decisions without clear explanations. This opacity can be problematic, especially in critical areas like hiring, lending, and medical diagnostics. For instance, there have been instances where AI-driven hiring tools mistakeably showed prejudice against certain applicants, leading to legal and reputational challenges. Amazon scrapped its AI recruitment tool as it kept showing bias against women. Security is also a growing concern. As AI becomes more advanced, so do the threats against it. Hackers can manipulate AI models, causing them to behave unpredictably. Cybercriminals can use AI to create more sophisticated phishing attacks or deepfake scams. Without proper safeguards, AI could become a liability rather than an asset. Recognizing these challenges, businesses and policymakers are emphasizing AI...
