The Return on Investment in AI Ethics: A Holistic Framework

TL;DR

This paper introduces a comprehensive framework to quantify the economic and intangible returns of organizational investments in AI ethics, aiding decision-making and justification.

Contribution

It presents the Holistic Return on Ethics (HROE) framework, integrating economic, reputational, and capability-based returns for AI ethics investments.

Findings

Framework quantifies direct economic returns.

Includes indirect returns via reputation and capabilities.

Helps organizations justify AI ethics investments.

Abstract

We propose a Holistic Return on Ethics (HROE) framework for understanding the return on organizational investments in artificial intelligence (AI) ethics efforts. This framework is useful for organizations that wish to quantify the return for their investment decisions. The framework identifies the direct economic returns of such investments, the indirect paths to return through intangibles associated with organizational reputation, and real options associated with capabilities. The holistic framework ultimately provides organizations with the competency to employ and justify AI ethics investments.