Meaning ● Ethical AI Metrics are quantifiable measures used by Small and Medium-sized Businesses (SMBs) to assess and monitor the ethical implications of their AI systems, ensuring responsible AI implementation within their operations. These metrics provide data-driven insights into aspects like fairness, transparency, and accountability, aligning AI deployment with business values and regulatory standards. SMBs leverage these metrics to mitigate risks associated with AI, enhance customer trust, and build a competitive advantage through ethical AI practices. The adoption of Ethical AI Metrics also supports SMBs in maintaining legal compliance and avoiding potential reputational damage related to biased or discriminatory AI outputs. ● By tracking these metrics, businesses gain tangible insights into how AI systems are impacting various stakeholders, enabling them to make informed decisions about AI development, deployment, and governance. Moreover, it also provides necessary guidelines and direction in relation to operational risks involved within the company. ● Measuring and documenting Ethical AI Metrics aids in fostering transparency and trust with customers, employees, and investors.
