Workday, Inc. co-CEO Carl Eschenbach recently spoke at the World Economic Forum in Davos, Switzerland, addressing the company’s commitment to the responsible use of artificial intelligence (AI). This comes after Workday faced a lawsuit in 2023, alleging that its AI screening tools allowed for discrimination against certain job-seekers.
Eschenbach emphasized the importance of ensuring that AI is implemented responsibly, acknowledging the potential for biases in AI models due to the data used to train them. However, he highlighted the high-quality and security of the proprietary data used by Workday to train its AI model. The company’s data consists of 65 million users on a common platform, which forms the basis for its AI model.
“The output of your AI is only as good as the data you are putting into it and the data model. When you think about Workday, our data is highly curated. It’s 65 million users on a common platform, and that’s what we are training our AI model off of,” said Eschenbach.
To further demonstrate its commitment to responsible AI, Workday published a whitepaper titled “Empowering Innovation Through Responsible AI Governance.” The whitepaper outlines the company’s Responsible AI (RAI) policies and emphasizes its dedication to developing trustworthy and responsible AI. Workday approaches RAI governance with a humble curiosity, a desire to do right by its customers and communities, and an openness to learning.
Workday’s dedication to responsible AI governance is in line with its reputation as one of the world’s most ethical companies. By prioritizing responsible AI implementation, the company aims to ensure that its technology is fair, unbiased, and beneficial to all users.
In terms of stock performance, Workday shares closed 1.51% higher at $289.99 on Friday, according to data from Benzinga Pro. This positive price action reflects investor confidence in the company’s commitment to responsible AI and its overall growth prospects.
As AI continues to play an increasingly significant role in various industries, it is essential for companies like Workday to prioritize responsible AI governance. By doing so, they can mitigate potential biases and discrimination, thereby fostering a fair and inclusive digital landscape. Workday’s efforts serve as an example for other organizations looking to navigate the challenges and reap the benefits of AI technology responsibly.
Overall, Workday’s commitment to responsible AI governance demonstrates its dedication to ethical practices and its understanding of the importance of ensuring that AI is used responsibly and for the benefit of all.
