Is your organization using data ethically?

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   New from McKinsey & Company   Curated by Eleni Kostopoulos   Digital Publishing Manager, New York Is your organization using data ethically? If you think data ethics doesn't apply to your organization, you're probably wrong. Now more than ever, every company is a data company, say expert associate partner Liz Grennan, senior partner Kayvaun Rowshankish, and co-authors in a recent article. By 2025, individuals and companies around the world will produce an estimated 463 exabytes of data each day—a decade ago, they produced less than three. How should companies begin to think about ethical data management? And what measures can they put in place to ensure that they are using data appropriately across the value chain? Dive into these insights to explore the most common data management traps—and don't risk losing your customers' trust and destroying value. Read more Data ethics: What it means and what it takes Every company must establish its own best practices for managing its data. Here are five pitfalls to avoid based on our conversations with experts and early adopters. Think globally  Why digital trust truly matters Consumer faith in cybersecurity, data privacy, and responsible AI hinges on what companies do today—and establishing this digital trust just might lead to business growth. Understand the research  Localization of data privacy regulations creates competitive opportunities Around the world, new regulations are promoting data localization. To comply, companies must be agile in their investments, but those that get it right could increase their revenues and market share. Get ahead of the curve  Getting to know—and manage—your biggest AI risks A systematic approach to identifying and prioritizing AI risks can help organizations effectively target mitigation efforts. Move quickly  What the draft European Union AI regulations mean for business Proposed EU rules are just one more step toward global AI regulation. Here's how smart organizations are preparing for compliance—and managing AI risk. Create a framework  Tech talent tectonics: Ten new realities for finding, keeping, and developing talent Large incumbents can compete successfully for tech talent—but only if they're ready to completely rethink their entire HR approach. Tech talent think and act differently. Don't miss out   Author Talks: Think digital People have long worried about being replaced by machines, but Tsedal Neeley says the true threat to job security in the digital age is other humans—namely those who know how to use digital tools. Improve your skill set  The state of AI in 2021 A majority of companies now adopt AI, and leaders are using more sophisticated tools and practices. Explore the data  Derisking AI by design: How to build risk management into AI development The compliance and reputational risks of artificial intelligence pose a challenge to traditional risk-management functions. Derisking by design can help. Keep up  IN THE BALANCE From Principles to Practice: Putting AI Ethics into Action The data scientists, data engineers, and technologists within QuantumBlack are at the forefront of cutting-edge developments in AI, spanning a wide range of industries and use cases. At the top of our mind in all of the conversations we have with these teams are the principles that are emerging around ethical AI. Understand ethical AI principles  Innovate | Legal: Tech Trust Teams Emerging technology is running at the speed of innovation, and the law struggles to keep up. Artificial intelligence (AI), although widely used, has inherent challenges because AI algorithms can raise significant issues of bias and too often lack transparency. Understand risks  To see more essential reading on topics that matter, visit McKinsey Themes. Follow our thinking Share these insights Did you enjoy this email? Forward it to colleagues and friends so they can subscribe too. Was this forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. McKinsey Insights - Get our latest thinking on your iPhone, iPad or Android. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our Artificial Intelligence alert list formerly called Analytics. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007