Page 12 - AeM_September_2019

RESEARCH, ANALYSIS & TRENDS

Singaporean businesses concerned about

the impact of AI on society, study reveals

While artificial intelligence (AI) is one of the top incorporating AI into their businesses to drive positive
technologies that will change the Singaporean business outcomes for their organizations, employees and
landscape in the next three years, most organizations in customers. A significant number of Singaporean
Singapore are still fearful of AI. Are we really talking businesses using AI say the technology has had a
about Singapore, which comes in third in the World positive impact on employee satisfaction (52%) and
Economic Forum’s list of the most innovative cities in the customer retention (53%).
world?
Singaporean businesses’ top concerns with AI
LivePerson, a NASDAQ-listed global tech company
specialized in asynchronous communication, AI and At the same time, the powerful outcomes that can be
automation, surveyed 500 Singaporean IT, customer delivered by AI have given rise to new ethical
experience and digital decision-makers, revealing that a considerations about the technology’s potential impact.
staggering 98% of respondents are taking steps to Clear concerns emerged in the research about AI’s
mitigate the risk of negative outcomes and to plan for the potential to negatively affect society, particularly when it
ethical use of AI. Three in five businesses surveyed comes to privacy and personal information. The most
(64%) have AI standards or guidelines in place. As part common concerns held by Singaporean businesses are
of Singapore’s Smart Nation initiative, the government lack of transparency in how important decisions are
has announced plans to almost double the adoption of made (92%), unauthorized access to data (92%) and
AI. loss of privacy (91%).

It is widely recognized that AI has revolutionized the Most important to the Singaporean businesses are that
economy and improved society in recent years. Plans people and organizations responsible for creating and
are already in place to develop AI as a strategic implementing systems are held accountable for the
capability and to look at how Singapore can become a impact of their system (93%) and AI systems should
trusted global hub for test-bedding, deploying and ensure private data is protected and kept confidential
scaling AI solutions. (93%).
The findings of this research reflect the same sentiment Attitudes toward AI not reflected in practice
that AI has the potential to markedly increase industry
growth, with half of digital leaders surveyed actively While Singaporean organizations are concerned about
the impact of AI on society, the research suggests
12 September 2019 - Marketing Automation, Analytics & Attribution