A Study on Ethical Implications of Artificial Intelligence Adoption in Business: Challenges and Best Practices

Widespread adaptation and implementation of artifcial intelligence (AI) across the businesses make ethical implications increasingly important. This study explores the ethical challenges and best practices surrounding the adoption of AI in various business contexts. The study fnds that following ethical concerns are the hinderance in the adaptation of AI in business (Privacy and data protection, bias and fairness, transparency and explainability, job displacement and workforce changes, algorithmic infuence, and manipulation, accountability, and liability, and ethical decision making). It also shows that these challenges vary across gender, age group, country, profession area, and age of the organizations. Lastly, the study provides insights on how businesses can navigate these challenges while upholding ethical standards. The study fnding is highly useful for the business leaders, policymakers, and researchers in ensuring responsible and ethical AI deployment in the business ecosystem.