Data obstacles and privacy concerns in artificial intelligence initiatives

Abstract

To become and remain competitive, many companies (especially large ones) are considering capitalising on data-based technologies, such as Artificial Intelligence (AI). However, whether these companies are structurally ready in terms of data collection and management remains unknown. This chapter discusses how privacy issues and reforms, such as the General Data and Protection Regulation (GDPR), affect companies’ AI initiatives and processes. For this purpose, we reviewed the relevant literature and collected empirical data using in-depth interviews with AI and data industry experts in five countries. Our main findings indicated that companies are lacking sound data collection and management practices. We also found that privacy should be at the centre of policies when implementing any data initiatives. Initiatives, such as the GDPR, are helping industries safeguard consumer privacy without causing problems for AI initiatives. Our study will bring clarity to business managers who want to capitalise on data-based AI technology and detail existing academic knowledge streams.