The World Economic Forum has announced the launch of the Global AI Action Alliance (GAIA), a new flagship initiative to accelerate the adoption of inclusive, transparent and trusted artificial intelligence (AI) globally.

AI holds the promise of making organisations 40 per cent more efficient by 2035, unlocking an estimated $14 trillion in new economic value. But as AI’s transformative potential has become clear, so, too, have the risks posed by unsafe or unethical AI systems, stated the WEF.

Recent controversies on facial recognition, automated decision-making and Covid-19 tracking have shown that realising AI’s potential requires strong buy-in from citizens and governments, based on their trust that AI is being built and used ethically.

Recognising this, over 175 organisations have proposed ethical AI principles. While this explosive growth in AI principles is welcome, it has created fragmentation. Further effort is required to translate these principles into practical tools for organisations to ensure AI’s positive future.

The GAIA is a new, multistakeholder collaboration platform designed to accelerate the development and adoption of such tools globally and in industry sectors. The Alliance brings together over 100 leading companies, governments, international organisations, non-profits and academics united in their commitment to maximising AI’s societal benefits while minimising its risks.

“AI holds the potential to deliver enormous benefits to society, but only if it is used responsibly. We are launching the Global AI Action Alliance along with our partners to shape a positive, human-centred future for AI at this decisive moment in its development,” said Klaus Schwab, the founder and executive chairman of the WEF.

Members of the Alliance work together to identify and implement the most promising tools and practices for ensuring that AI systems are ethical and serve all society members, including groups historically under-represented in the AI ecosystem.