Impact Assessment is an important type of transparency report designed to help stakeholders identify and evaluate the potential impacts of deploying Artificial Intelligence (AI)-supported systems, both beneficial and harmful. Here, everyone involved in the AI deployment is identified in advance in order to consider the specific use case and its context of implementation. It is an involved process, made even more complicated when contending with the nuances of underlying AI model use. The AI Impact Assessment hopes to achieve the ultimate goal of making sure AI systems are used ethically and responsibly so that their potential gains can be realized, while any associated risk can be successfully mitigated. By completing this kind of assessment and proper review before implementing an AI model, we can ensure the best possible outcomes across as many considerations as possible.
