Artificial intelligence (AI) systems have significant impacts on individuals and society, with potential consequences like denial of medical treatments or educational opportunities. The application of AI in seemingly non-critical domains can also lead to unfair bias, affecting individuals, society, and businesses. Business risks include missed opportunities, reputational damage and regulatory compliance issues. The evolving legal landscape, such as the EU AI Act, is focusing on formulating fairness, diversity and non-discrimination in AI to guide lawful AI practices.
