Transparency and accountability in AI systems: safeguarding wellbeing in the age of algorithmic decision-making

The rapid integration of artificial intelligence (AI) systems into various domains has raised concerns about their impact on individual and societal wellbeing, particularly due to the lack of transparency and accountability in their decision-making processes. This review aims to provide an overview of the key legal and ethical challenges associated with implementing transparency and accountability in AI systems. The review identifies four main thematic areas: technical approaches, legal and regulatory frameworks, ethical and societal considerations, and interdisciplinary and multi-stakeholder approaches. By synthesizing the current state of research and proposing key strategies for policymakers, this review contributes to the ongoing discourse on responsible AI governance and lays the foundation for future research in this critical area. Ultimately, the goal is to promote individual and societal wellbeing by ensuring that AI systems are developed and deployed in a transparent, accountable, and ethical manner.