  We propose a Holistic Return on Ethics (HROE) framework for understanding the
return on organizational investments in artificial intelligence (AI) ethics
efforts. This framework is useful for organizations that wish to quantify the
return for their investment decisions. The framework identifies the direct
economic returns of such investments, the indirect paths to return through
intangibles associated with organizational reputation, and real options
associated with capabilities. The holistic framework ultimately provides
organizations with the competency to employ and justify AI ethics investments.
