Adopting AI Responsibly: Guidelines for Procurement of AI Solutions by the Private Sector

In today's rapidly evolving technological landscape, responsible and ethical adoption of artificial intelligence (AI) is paramount for commercial enterprises. The exponential growth of the global AI market highlights the need for establishing standards and frameworks to ensure responsible AI practices and procurement. To address this crucial gap, the World Economic Forum, in collaboration with GEP, presents a comprehensive guide for commercial organizations.

This report offers a structured framework for evaluating the implications of acquiring AI solutions, emphasizing transparency, accountability and human-centred design throughout the development and implementation process. With the aim of protecting businesses from potential risks related to intellectual property, data and privacy, the framework provides guidance on evaluating potential solutions and addressing bias, privacy and security concerns. It also offers insights on integrating ethical principles into the procurement criteria and processes, involving multiple stakeholders and emphasizing strong governance criteria.

This indispensable resource is a practical toolkit for business and procurement leaders seeking to ensure socially responsible AI adoption within their organizations. By aligning AI solutions with business goals, ethical standards and regulatory requirements, enterprises can harness the power of AI to drive productivity, efficiency and sustainable growth. With the aid of this customizable framework, organizations can ethically exploit AI's disruptive power and gain a competitive edge in the market.