The Truth About "Responsible AI" – What 1,001 Executives Reveal About Getting AI Right

Survey of 1,001 US executives on responsible AI practices & implementation

Published Aug 02, 2024

Ever wonder if companies are actually being responsible with AI, or just talking a good game? PwC just surveyed 1,001 US executives across major industries to find out what's really happening behind the corporate curtain. Spoiler alert: most companies are still figuring it out, but the ones who get it right are already seeing serious value creation.

The Problem in Simple Terms

What's Wrong: Picture this - you're at a dinner party where everyone's talking about their amazing AI projects, but nobody wants to discuss what happens when things go sideways. That's basically where most companies are right now.

Real Business/Academic Challenges:

  • Only 58% of companies have even done a basic risk assessment of their AI systems (yikes!)
  • Just 11% report having fully implemented fundamental responsible AI capabilities (double yikes!)
  • Most companies treat responsible AI like a one-time compliance checkbox instead of an ongoing commitment
  • It's nearly impossible to quantify the value of "dodging a bullet" - how do you measure a scandal that didn't happen?
  • Leadership ownership is fragmented, with nobody clearly in charge of making AI responsible

The Solution

Think of responsible AI less like a safety manual gathering dust on a shelf, and more like your body's immune system - constantly working, adapting, and protecting you from threats you might not even see coming.

The research reveals successful companies focus on four key areas:
  • Create single-point ownership with multi-disciplinary support teams
  • Think beyond AI itself to understand how it integrates across the entire organization
  • Build end-to-end processes from initial use case assessment through ongoing monitoring
  • Move from theoretical policies to operational reality that scales across the business
The most successful organizations view responsible AI as a value creator, not just risk management. They're achieving competitive differentiation (46% cite this as a top objective), enhanced customer experiences, and improved cybersecurity - all while building stakeholder trust.

Why This Matters for Praxis AI

This research validates everything we've been building at Praxis AI! Our digital twin technology and AI middleware orchestration platform embody exactly the kind of responsible AI approach these executives are seeking.

When we created digital experts, and our specialized assistant workflow agents, we built responsible AI principles into the foundation. Our platform addresses the key challenges identified in the survey:
  • Clear ownership structure: Our digital experts provide dedicated, accountable AI intelligence for specific domains
  • End-to-end governance: From initial deployment through ongoing learning and adaptation
  • Transparent operations: Users understand exactly what their digital experts can do and how they make decisions
  • Risk-managed value creation: Like our 35% improvement in student performance metrics with university deployments 
What's particularly exciting is how this research shows that responsible AI isn't just about avoiding problems - it's about unlocking AI's true potential for human collaboration. That's precisely what we've achieved with our Canvas integrations and enterprise middleware solutions, where digital twins amplify human expertise rather than replacing it.

The fact that 73% of surveyed companies plan to use both traditional AI and generative AI aligns perfectly with our multi-modal approach. We're not just riding the GenAI wave - we're orchestrating the entire AI symphony responsibly.

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