When we think of artificial intelligence (AI) and innovation, “responsibility” and “ethics” may not be the first words that come to mind. But as industries accelerate their adoption of AI, these elements are no longer just nice-to-haves—they are essential, argue Lucio Ribeiro and Vijay Solanki, who report on the key messages from the first InnovAItor event.
The Power and Peril of AI: The Balancing Act
Kendra Vant, an AI advisor for boards and start-ups, delivered a striking reminder during the panel discussion. “AI has the power to transform industries, but it also has the potential to cause harm if not used responsibly,” she said. Her words echoed throughout the room, drawing the audience into a conversation that many tech innovators might find uncomfortable, but necessary.
Vant shared a personal anecdote from her time at Xero, where AI was introduced to help automate tedious financial tasks. It was a win for efficiency, but also a stark reminder of how quickly jobs could be disrupted without careful consideration of the human element.
“We spent as much time talking about what we wouldn’t automate as we did on what we would,” she recalled.
It was about understanding not just what AI can do, but what it should do. The challenge isn’t just about building smarter algorithms; it’s about embedding values into the technology we create. And for journalists covering the ever-evolving tech landscape, these nuances matter. Responsible innovation isn’t merely a trend—it’s a prerequisite for sustainable growth.
More than that, it can be a differentiator, setting companies apart in a market increasingly aware of ethical issues. By building a strong set of principles from the start, companies—whether start-ups or established enterprises—can create trust and credibility, two invaluable assets in today’s digital age.
The Tensions Between Speed and Responsibility
The InnovAItor event wasn’t shy about addressing the contradictions that underpin AI development. On the one hand, companies are in a race to innovate, driven by market pressures and the fear of being left behind. On the other, the need to slow down and think about the ethical implications of technology is greater than ever.
Lucio Ribeiro, co-host of the event, encapsulated this dilemma: “There’s this constant push-pull between getting things out fast and getting things right. The reality is, if you’re moving so fast that you don’t have time to check the impact of what you’re doing, you’re setting yourself up for long-term risks.”
It’s a warning that many in the start-up space should heed, especially as they strive to disrupt and scale rapidly.
But it’s also where opportunities lie. By prioritising responsible innovation, companies can build trust and brand loyalty, two priceless assets in today’s marketplace. The key is finding a way to innovate without compromising ethical standards—a balance that requires transparency, accountability, and ongoing dialogue. For start-ups, this means setting up ethical guidelines from day one. For corporates, it involves integrating these principles into every level of their operations, influencing everything from product design to marketing.
Lessons From the Corporate-Start-Up Interface
One of the standout moments from the InnovAItor event was a candid story from Lee Hickin, AI policy lead at Microsoft Asia. He described a scenario where a start-up they partnered with was eager to integrate AI tools to streamline customer service. However, the implementation raised significant concerns around data privacy and bias. “It wasn’t about saying ‘no’ to the tech,” Hickin explained, “but about guiding the start-up to see the broader impact of what they were building. Sometimes the best innovation happens when you hit the pause button.”
Hickin’s point underscored a critical lesson for all innovators: sometimes, slowing down is the best way to speed up. “Our goal is to enable innovation, but not at the cost of ethics,” he emphasised. His story highlighted the importance of mentorship and collaboration, especially in a landscape where start-ups might lack the resources or expertise to navigate complex ethical dilemmas on their own.
The InnovAItor event brought together start-ups and corporates. For start-ups, building a solid foundation of ethical principles from the get-go ensures that they don’t find themselves scrambling to fix problems later. For corporates, it’s about using their resources and influence to lead by example, showing how responsible innovation can drive not just profit but positive impact.
Responsible Innovation as a Differentiator
Perhaps the biggest misconception that needs to be addressed is that responsible innovation is a drag on speed or profit. The truth is, responsible innovation can be a powerful differentiator. Companies that are clear about their ethical guidelines are more likely to attract customers, partners, and investors who value trustworthiness and transparency. In a world where data breaches, privacy concerns, and ethical missteps can lead to costly PR disasters, building and marketing a product based on responsible innovation can set companies apart from their competition.
“Responsible innovation is not about slowing down; it’s about doing things right so that you can speed up sustainably,” said Ribeiro in his closing remarks. By building a set of ethical principles from the start, companies—whether start-ups or established enterprises—can create trust and credibility, two invaluable assets in today’s digital age. It’s not just about ticking a compliance box; it’s about creating a long-term competitive advantage.
The Path Forward: Innovation With Integrity
As the first InnovAItor event came to a close, the message was clear: the future of innovation doesn’t have to be a zero-sum game between progress and ethics. It can, and should, be a blend of both. The event’s success wasn’t just in the insightful panel or the dynamic demos—it was in the conversations it sparked. Whether you’re a start-up founder, a corporate executive, or a journalist, there’s a lesson here for everyone. Responsible innovation isn’t a constraint; it’s an opportunity to build better, smarter, and more human-centric technology.
In the words of Kendra Vant, “The best innovations are those that understand the bigger picture, that consider not just what we’re building, but who we’re building it for.” And that’s a takeaway we can all stand behind. As businesses navigate the evolving landscape of AI and tech, those who prioritise responsibility and ethics will lead the way, setting a new standard for what it means to innovate with integrity.”
The second InnovAItor event looks at whether Gen AI can make advertising better. Buy tickets here.
Vijay Solanki and Lucio Ribeiro are the founders of the InnovAItor series.
