In recent years, Ethical AI has become an area of increased importance to organisations. Advances in the development and application of Machine Learning (ML) and Deep Learning (DL) algorithms, require greater care to ensure that the ethics embedded in previous rule-based systems are not lost. This has led to Ethical AI being an increasingly popular search term and the subject of many industry analyst reports and papers.
During the information age, and throughout the 4th industrial revolution, technology, data and information were in abundance. But, soon came the realization that technology and access to all of the data and information, by itself, was not the solution.
It’s no secret that it’s much cheaper to retain a customer than get a new one — 5 times cheaper, according to Forbes. The paradigm however seems to be changing: retaining is not enough when there are a lot of easily reachable competitors out there. You need to go one step further: make customers loyal.