Responsible algorithmic decision-making

Algorithmic decision-making - the use of computational methods that enable machines to automatically complete tasks and/or make decisions - is emerging as a critical source of competitive advantage for organizations. However, despite many benefits, there is an inherent dark side associated with it that can manifest issues ranging from a loss of privacy for individuals to societal power imbalance. Managers and policymakers alike need to be able to understand potentially unethical consequences that can arise from algorithmic decision-making before they can fully manifest. This article aims to support this undertaking by identifying, analysing, and explaining the challenges that can arise from algorithmic decision-making, and by contributing a seven-step roadmap to those wanting to responsibly implement and benefit from algorithms today.