CEO Insights

Business and nonprofit leaders in the U.S. may not feel so weighty a responsibility in assessing the global impact of AI, but we must realize AI’s power to impact our organizations, our local economies, our sectors, and our nation.

Industry self-regulation can be a key differentiator for businesses and nonprofits to perform at their most effective level, especially when it comes to engaging with emerging technologies such as AI. But the question is, as a private sector leader, what does the road map look like?

As a new frontier, the metaverse is full of opportunities for brands and also creates a lot of nuanced challenges for companies engaging with or marketing to children and teens. Responsible brands - large and small - should take proactive steps to better understand the advertising and privacy challenges in the metaverse.

Employing AI in the recruiting and hiring process voluntarily, under the auspices of independent industry self-regulation, is often far preferable to being forced to do so under a regime of top-down government regulation.

An appropriate federal privacy law would level the playing field for all companies and create much-needed uniformity in the digital marketplace to enable enhanced trust in the marketplace for businesses and consumers.

It can be challenging for us nonprofit leaders to delve into new areas of organizational growth and opportunity, such as determining what government actions are important to our organizations. The key question is: When and how should you engage with the government as a nonprofit leader?

Recent Sanofi SA and Novo Nordisk pricing actions were seen by some as an example of industry self-regulation, but it is a very narrow example. Now, more than ever, is the time for real independent industry self-regulation to take root and grow, meaning guidelines with teeth.

While the crypto market itself is quite revolutionary, its challenges in introducing a new concept to consumers are not new. In every emerging market, business leaders should take steps to generate excitement while being careful to avoid pitfalls by making advertising claims that they can support with evidence.

In recent years, government scrutiny over the use of artificial intelligence (AI) tools in the recruiting and hiring process has risen. A better understanding of these actions can help business leaders reduce their risk of legal liability and better understand how to use AI and machine learning responsibly in their organizations.

As businesses continue to develop new and innovative technologies, they are also collecting more data from consumers. While we await for additional guidance on the future of Privacy Shield, business and nonprofit leaders can take some lessons from Schrems I to help them prepare for what is to come.