Artificial Intelligence (AI) is a technology that has left the laboratory and is now being adopted at scale.

As AI is introduced at scale across all sectors of the economy its implementation raises key issues around its ethical use. This presents considerations across all three of the environmental, social and governance (ESG) dimensions that are increasingly driving business and investment.

The accountancy profession, with its explicit and long-standing commitment to ethical practices, is well placed to guide organisations along a responsible path for AI adoption.

To address this increasingly critical issue, global accountancy organisations ACCA and Chartered Accountants ANZ commissioned some wide-ranging research that has been published in the report Ethics for Sustainable AI Adoption.

Drawing on data from interviews, discussion groups and a global survey of 5723 accounting and finance professionals, the research presents a clear snapshot of current AI adoption and how organisations are dealing with the ethical dimension and ESG specific issues. 

Ultimately, it is the ethical and sustainable adoption of AI that will determine its relevance and usability. 

Among the findings, the research shows that 28% of respondents are currently using AI without having implemented an ethical framework for it within their organisation. 

There is a temptation for quick AI adoption and rapid wins, but the best adoption of AI is a measured ethical and sustainable approach. The business case must consider long-term trends rather than seeking the latest tool simply for fear of missing out. 

AI is one of the most exciting, transformational technological developments of our time, but technology has the potential both to improve lives and to cause harm.

Ultimately, it is the ethical and sustainable adoption of AI that will determine its relevance and usability.