code4thought featured
in Ethical AI Database
annual report

code4thought has been featured in Ethical AI Database’s annual report “FY 2022 Report: State of the ethical AI ecosystem” as a new addition under the AI Governance, Risk and Compliance category.
The Ethical AI Database (EAIDB) is a curated collection of startups that are either actively trying to solve problems that AI and data have created or are building methods to unite AI and society in a safe and responsible manner.
As the report points out: “2022 was a big year… We witnessed multiple strategic acquisitions, lots of dynamic movement within each category, and a ton of investment inflow. EAIDB was founded in Q2 2022 with 148 companies, but since then we have grown by about 45% and now have 215 verified companies”.
The code4thought team views the growth of the ethical AI market as both exciting and reassuring.
– Exciting for all the opportunities presented for further developing our AI audit and AI governance products and services.
– Reassuring because we like to think that it signifies the evolution not of a new market, but of a movement, which strives for a safe, responsible and trustworthy AI.
While AI adoption globally is 2.5x higher today than in 2017, there has been no substantial increase in organisations’ reported mitigation of AI-related risks (McKinsey & Co, The state of AI in 2022—and a half decade in review).Given that AI technology advancements are booming and the effects on corporate and social level are beyond prediction, the need for trustworthy and thoughtful technology (as we like to call it) is obvious and at the same time, inspiring for all of us working on this field.
We are here for the ride with all of the 214 companies in the Ethical AI start-up ecosystem and the ones that will join further on. Special kudos to the 23 new companies that got featured this year along with us. Let’s do our best for a future with responsible AI.
You can read the full report here: