Workday, Inc. WDAY co-CEO Carl Eschenbach addressed the company’s decade-long commitment to the responsible use of AI at the World Economic Forum in Davos, Switzerland.
What Happened: Eschenbach stated on CNBC’s “Squawk Box” Thursday that Workday has been working with regulators around the world to ensure AI is being implemented responsibly as the company faces a lawsuit filed in 2023 alleging its AI screening tools allow users to discriminate against certain job-seekers.
Eschenbach recognized the potential for AI models to be susceptible to biases resulting from the data used to train each model. However, he highlighted the high-quality and security of the proprietary data used by Workday to train 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.
What’s Next: Workday published a whitepaper titled “Empowering Innovation Through Responsible AI Governance” which outlines the company’s Responsible AI (RAI) policies.
The whitepaper states, “As one of the world’s most ethical companies, we’re committed to developing trustworthy and responsible AI. We’re approaching RAI governance just as we’ve approached complex yet important topics before: with a humble curiosity, a desire to do right by our customers and our shared communities, and an openness to learning.”
WDAY Price Action: According to data from Benzinga Pro, Workday shares closed 1.51% higher at $289.99 on Friday.