It can be concluded that responsible technology is now beyond hypothesis or buzzword—it has become a specific business problem to be considered across industries. Executives are increasingly considering how responsible technology policies can impact the brand perception of customers, investors, suppliers and partners. Organizations are thinking more critically about how their employees, both current and future, view their technology use and creation. And forward-looking business leaders, both large and small, expect that responsible technology, and practices related to environmental sustainability in particular, will continue to matter. .
Here are some other important findings:
• Organizations expect responsible technology investments to pay off with enhanced brand reputation and customer and employee retention. When asked about the tangible business benefits of responsible technology adoption, the top three answers were better customer acquisition/retention (47%), improved brand awareness (46) %) and prevent unintended negative consequences and associated brand risks (44%). Closely following these top three goals are attracting and retaining top talent (43%) and improving sustainability (43%).
• Large companies are proactive, while smaller companies are reactive. Drivers for responsible technology policies come from various internal and external sources. Large companies are more likely to say they are motivated by a desire to attract investors and partners (53%) and are aligned with their own mission and values (44%), while large companies are more likely to say they are motivated by a desire to attract investors and partners (53%) Smaller companies are more likely to give the desire to improve organizational awareness (54%) and increase employee retention (45%).
• There is no consensus on which responsible practices should take precedence. Organizations give multiple focus to their responsible technology practices, with holistic design, data privacy, environmental impact, AI bias removal, and force diversification. labor force, each among the top three for about half of the respondents. User privacy and monitoring is considered less important than all other options offered, with only 35% of respondents ranking it among their organization’s top three focuses .
• Senior leadership must be involved to make impactful policies a reality. The most cited barriers to responsible technology adoption are lack of senior management awareness (52%), resistance to organizational change (46%) and priorities internal competition (46%).
• Organizations both fear and appreciate regulations around responsible technology. Nearly a quarter of respondents (23%) consider compliance with applicable laws, such as GDPR or anticipation of pending (and potentially more far-reaching) regulation as their top motivation. to adopt responsible technology practices, although this number varies widely by industry and by geography. While some business leaders expressed concern about the pending regulation, others said it was important industry guidance.
This content is produced by Insights, the custom content arm of MIT Technology Review. It was not written by the editorial staff of the MIT Technology Review.
