As businesses rush to tap generative AI’s vast potential to transform the customer experience, analysts watching this modern-day gold rush have responded with both optimism and caution. For every new business opportunity unveiled by AI comes very real concerns about a host of issues: data privacy and security, transparency about decision-making, and of course, job security.

In this latest episode of the Conversations with Zendesk podcast, host Nicole Saunders was joined by Jeremy Kingsley, global lead of strategic foresight at Economist Impact, who shed light on AI’s potential to revamp healthcare and education, financial services’ early adoption of the technology, and the ethical and regulatory challenges that business leaders and nations must confront.

As Kingsley argues that businesses that tackle possible inherent bias in their AI and communicate openly with their consumers will put themselves in a strong position to both build customer loyalty and stay on the right side of regulators.

“Companies need to be transparent about their use of AI and disclose when AI is making decisions,” Kingsley said.

Meanwhile, as AI automates tasks once performed by humans, the onus is on companies to ensure the technology works for all, and that jobs evolve accordingly, Kingsley said.

Stay tuned for the next episode of Conversations with Zendesk (November 1), which will feature Zendesk’s Paulette Chafe, head of customer insights and thought leadership, who will talk about Zendesk’s research about IT leaders’ growing role in shaping customer and employee experiences.