Ethics and Strategies for AI Personalization

As companies across several industries — for instance, healthcare, insurance and wealth management — move from Machine Learning to AI personalization it is important to consider strategic and ethical implications for dealing with customers and their data. AI personalization ethics and strategies are a source of both opportunity and concern. On one hand, organizations can capitalize on the power of AI to design tailored experiences that serve customers better than ever before. However, a lack of transparency and a potential for bias in AI decisions has led to the need for better ethics in personalization practices.

Good personalization strategies should always prioritize a focus on customer needs and preferences, a respect for privacy, a commitment to transparency, and a focus on fairness. Companies should also consider using ethical algorithms (trust and governance) that weigh the impact of their decisions from an ethical perspective. This could include a bias-monitoring system to identify any potential issues before they become problematic. Additionally, a feedback loop should be established to actively monitor customer satisfaction and take corrective action when needed.

One important notion surrounds the usage of customer data. The ethical company will only use customer data to the benefit of the customer. This can include anything from a…