SOCIETAL IMPACTS AND ETHICAL CONSIDERATIONS OF AI IN THE BUSINESS

Using advanced technologies in general, and AI in particular, are enabling and bringing valuable services and contributions to society in many directions. Likewise, for nature, their contribution is significant in different areas. But, as we consider the positive aspects of AI for society and nature, we must bear in mind that at the same time the advancement of technologies and the use of AI are causing societal side effects and external costs, which are tangible and visibly damaging society and nature. In this presentation, through literature sources and empirical findings, we will highlight the positive and side effects of the application of AI, assessing that the challenge of society and professionals in the field is to minimize side effects and external costs of AI, making the AI beneficial for humanity. The paper conveys the hypothesis that the application of AI Ethics is an effective tool to make AI useful and beneficial both for society and for nature. For this purpose, corporations and businesses of all sizes, must clearly articulate their attitude and behaviour in regard to the use of technologies. The collection of literature, empirical findings, analysis, comparison, generalization, and evaluations will be used as research instruments to testify the idea presented. The paper recommends that business organizations should apply the AI Code of Ethics as an integral part of their daily activity