Ethical Considerations of AI-Driven Decision-Making: Addressing Bias and Accountability in Business Practices

The swift rate and depth of AI assimilation into the fabric of business operations have a considerable impact on the process of decision-making among managers. However, this also leads to the surfacing of considerable ethical dilemmas, especially those pertaining to formulative biases that are unidentified by the algorithms, as well as the loss of corporate accountability. This being an exhaustive analysis of AI ethics in the world of business, this paper seeks to highlight the impediments brought about by the assimilation of data bias into AI systems, especially along the avenues of corporate accountability. Moreover, it also seeks to provide an exhaustive understanding of the mitigators that currently exist, along with the EU AI Act, which entered into effect in 2024.