Data bias is becoming an increasingly pressing issue for businesses that leverage artificial intelligence and machine learning, but many organisations struggle to address it effectively. Two-thirds of executives think there is currently data bias in their organisations, according to a global study sponsored by Progress and conducted by Insight Avenue.
Below are some interesting highlights that could impact the Indian market:
According to a recent survey on data bias in India, organisations are becoming increasingly reliant on AI/ML for decision-making, with a whopping 55% expecting to increase their reliance on the technology this year. However, as dependence on AI/ML grows, 69% of organisations anticipate a heightened concern over potential data bias.
Despite 55% of organisations acknowledging the existence of data bias within their organisation, 63% of respondents consider lack of awareness and understanding as significant barriers to addressing it. Additionally, the lack of available expert resources, such as access to data scientists, is also a challenge.
However, the survey results show that 82% of respondents in India see technology as a crucial tool in the fight against data bias. Furthermore, 57% of organisations believe that data bias could have serious social consequences if not addressed.
Globally, 66% of organisations anticipate becoming more reliant on AI/ML decision-making in the coming years, with 65% believing that there is currently data bias in their organisation. A significant 77% of organisations feel that they need to be doing more to address data bias, with 51% citing lack of awareness and understanding of biases as a significant barrier to addressing it.
Other significant highlights from the survey include that 76% of respondents believe in the positive impact of optimal human-machine collaboration.