We need ESG criteria for AI

ESG investors should insist that AI companies incorporate ethical oversight of the creation and use of artificial intelligence in their business practices. Just as there are criteria for how businesses source their raw materials, tackle Co2 emissions etc, there ought to be criteria for how businesses use one of the most powerful tools any business has ever seen.

But what should those criteria be?

Any ESG criteria needs to be examined in the context of core AI ethical principles, namely:

Privacy – everyone has the right to have control over their data

Fairness – everyone has the right to fair treatment

Equality & Inclusion – everyone has the right to be treated equally with equal access to resources

Autonomy – everyone has the right to personal freedom and autonomy

Security – everyone has the right to personal security

Information – everyone has the right to be free from false or manipulative treatment

In addition to the above, there are some important steps ESG investors should insist that companies develop and implement a code of ethics or ethical AI framework.

ESG investors should also consider investing in tools that can evaluate the ethical use of AI and show how an algorithm(s) is/are making decisions in possible portfolio investments.

We believe ESG investors are in a crucial position. They have the responsibility – given their own goals – to integrate AI ESG criteria into their investment strategies and they have the power to push companies to develop and incorporate new AI sustainable practices.