Kate MacDonald, New Zealand Government Fellow at the World Economic Forum, and Lofred Madzou, Project Lead, AI and Machine Learning at the World Economic Forum have published a report that explains how AI can benefit everyone.
According to MacDonald and Madzou, artificial intelligence can improve the daily lives of just about everyone, however, we still need to address issues such as accuracy of AI applications, the degree of human control, transparency, bias and various privacy issues. The use of AI also needs to be carefully and ethically managed, MacDonald and Madzou recommend.
As mentioned in a blog post by MacDonald and Madzou:
One way to [ensure ethical practice in AI] is to set up a national Centre for Excellence to champion the ethical use of AI and help roll out training and awareness raising. A number of countries already have centres of excellence those which dont, should.
The blog further notes:
AI can be used to enhance the accuracy and efficiency of decision-making and to improve lives through new apps and services. It can be used to solve some of the thorny policy problems of climate change, infrastructure and healthcare. It is no surprise that governments are therefore looking at ways to build AI expertise and understanding, both within the public sector but also within the wider community.
As noted by MacDonald and Madzou, the UK has established many Office for AI centers, which aim to support the responsible adoption of AI technologies for the benefit of everyone. These UK based centers ensure that AI is safe through proper governance, strong ethical foundations and understanding of key issues such as the future of work.
The work environment is changing rapidly, especially since the COVID-19 outbreak. Many people are now working remotely and Fintech companies have managed to raise a lot of capital to launch special services for professionals who may reside in a different jurisdiction than their employer. This can make it challenging for HR departments to take care of taxes, compliance, and other routine work procedures. Thats why companies have developed remote working solutions to support companies during these challenging times.
Many firms might now require advanced cybersecurity solutions that also depend on various AI and machine learning algorithms.
The blog post notes:
AI Singapore is bringing together all Singapore-based research institutions and the AI ecosystem start-ups and companies to catalyze, synergize and boost Singapores capability to power its digital economy. Its objective is to use AI to address major challenges currently affecting society and industry.
As covered recently, AI and machine learning (ML) algorithms are increasingly being used to identify fraudulent transactions.
As reported in August 2020, the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research segment of the Hong Kong Academy of Finance (AoF), had published a report on AI and banking. Entitled Artificial Intelligence in Banking: The Changing Landscape in Compliance and Supervision, the report seeks to provide insights on the long-term development strategy and direction of Hong Kongs financial industry.
In Hong Kong, the use of AI in the banking industry is said to be expanding including front-line businesses, risk management, and back-office operations. The tech is poised to tackle tasks like credit assessments and fraud detection. As well, banks are using AI to better serve their customers.
Policymakers are also exploring the use of AI in improving compliance (Regtech) and supervisory operations (Suptech), something that is anticipated to be mutually beneficial to banks and regulators as it can lower the burden on the financial institution while streamlining the regulator process.
The blog by MacDonald and Madzou also mentions that India has established a Centre of Excellence in AI to enhance the delivery of AI government e-services. The blog noted that the Centre will serve as a platform for innovation and act as a gateway to test and develop solutions and build capacity across government departments.
The blog post added that Canada is notably the worlds first country to introduce a National AI Strategy, and to also establish various centers of excellence in AI research and innovation at local universities. The blog further states that this investment in academics and researchers has built on Canadas reputation as a leading AI research hub.
MacDonald and Madzou also mentioned that Malta has launched the Malta Digital Innovation Authority, which serves as a regulatory body that handles governmental policies that focus on positioning Malta as a centre of excellence and innovation in digital technologies. The island countrys Innovation Authority is responsible for establishing and enforcing relevant standards while taking appropriate measures to ensure consumer protection.
More here:
- Researchers create innovative verification techniques to increase security in artificial intelligence and image processing - European Research Council - April 29th, 2024 [April 29th, 2024]
- Who in Europe is investing the most in artificial intelligence? - Euronews - April 29th, 2024 [April 29th, 2024]
- 4 Artificial Intelligence (AI) Stocks Members of Congress Can't Stop Buying (and Nvidia Isn't 1 of Them!) - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- The Standard Names Porter Orr Second Vice President of Artificial Intelligence Strategy and Development - NRToday.com - April 29th, 2024 [April 29th, 2024]
- Meet Nvidia CEO Jensen Huang, the man behind the $2 trillion company powering today's artificial intelligence - CBS News - April 29th, 2024 [April 29th, 2024]
- This Warren Buffett Dividend King Stock Just Invested $1.1 Billion Into Artificial Intelligence (AI) - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Joe Rogan Reveals What Could Be 'Game Over for the Human Race' - Newsweek - April 29th, 2024 [April 29th, 2024]
- LegalTech Artificial Intelligence Market to Soar to $6.4 Billion by 2028: Global Long-term Forecast to 2033 - Strategic ... - Yahoo Finance UK - April 29th, 2024 [April 29th, 2024]
- Artificial Intelligence Tokens Stumble Again! Is The AI Hype Over? - Coinpedia Fintech News - April 29th, 2024 [April 29th, 2024]
- CISA unveils guidelines for AI and critical infrastructure - FedScoop - April 29th, 2024 [April 29th, 2024]
- IBM's Webinar: Cybersecurity In The Era Of Artificial Intelligence Keynotes - AiThority - April 29th, 2024 [April 29th, 2024]
- Being and becoming a good doctor in the age of artificial intelligence - Firstpost - April 29th, 2024 [April 29th, 2024]
- Pope to take part in G7 summit in June to talk Artificial Intelligence - Crux Now - April 29th, 2024 [April 29th, 2024]
- Pope Francis to attend G7 summit to speak on artificial intelligence - Catholic News Agency - April 29th, 2024 [April 29th, 2024]
- 1 Unstoppable Artificial Intelligence (AI) Stock to Buy and Hold Forever - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Pope to bring his call for ethical artificial intelligence to G7 summit in June in southern Italy - The Associated Press - April 29th, 2024 [April 29th, 2024]
- Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy? - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Emulating neurodegeneration and aging in artificial intelligence systems - Tech Xplore - April 29th, 2024 [April 29th, 2024]
- Pope Francis to participate in G7 session on AI - Vatican News - English - April 29th, 2024 [April 29th, 2024]
- A Once-in-a-Generation Investment Opportunity: 1 Bill Ackman Artificial Intelligence (AI) Stock to Buy Hand Over Fist ... - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Tesla Stock Investors Cheer Progress on Its Artificial Intelligence (AI) Future - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- In Race to Build A.I., Tech Plans a Big Plumbing Upgrade - The New York Times - April 29th, 2024 [April 29th, 2024]
- A Baltimore-area teacher is accused of using AI to make his boss appear racist - NPR - April 29th, 2024 [April 29th, 2024]
- 3 Top Artificial Intelligence (AI) Stocks That Billionaires Jim Simons, Ray Dalio, and Israel Englander Are Buying - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- The iPad Pro can give us a big surprise with its artificial intelligence chips. - Softonic EN - April 29th, 2024 [April 29th, 2024]
- This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy? - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Billionaire Bill Ackman Owns 8 Stocks -- and This Hypergrowth Artificial Intelligence (AI) Stock Isn't One of Them - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Artificial Intelligence Has Come for Our...Beauty Pageants? - Glamour - April 29th, 2024 [April 29th, 2024]
- 3 Stocks to Grab Now to Ride the Artificial Intelligence Chip Boom to Riches - InvestorPlace - April 29th, 2024 [April 29th, 2024]
- Is ASML's Big Sell-off a Warning Sign to Artificial Intelligence (AI) Investors? - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- 3 Artificial Intelligence (AI) Stocks to Buy With $1,150 and Hold for Decades - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- This combines the power of artificial intelligence with human insights - finews.com - March 22nd, 2024 [March 22nd, 2024]
- Cohere Targets $5 Billion Valuation for ChatGPT Rival - PYMNTS.com - March 22nd, 2024 [March 22nd, 2024]
- IMF: Artificial Intelligence (AI) Will Transform 40% of Jobs. Can Investors Capitalize? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- Cathie Wood Is Selling These 2 Artificial Intelligence (AI) Stocks. Should You? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) Shares Acquired by Creative Financial ... - Defense World - March 22nd, 2024 [March 22nd, 2024]
- Inaugural Plenary Meeting of States Endorsing the Political Declaration on Responsible Military Use of Artificial ... - Department of State - March 22nd, 2024 [March 22nd, 2024]
- AMD Fell Today -- Is This a Chance to Buy the Artificial Intelligence (AI) Stock? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- Artificial Intelligence (AI) Stocks Are Red-Hot, but Here's 1 to Avoid (for Now) - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- A Once-in-a-Generation Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy and Hold Forever - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- 2 Artificial Intelligence (AI) Stocks That Could Go Parabolic - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Artificial intelligence will radically improve health care, but only if managed carefully - The Hill - March 22nd, 2024 [March 22nd, 2024]
- Tennessee Makes A.I. an Outlaw to Protect Its Country Music and More - The New York Times - March 22nd, 2024 [March 22nd, 2024]
- When Using Artificial Intelligence In Pharma R&D, Start With Identifying Problem To Solve - HBW Insight - March 22nd, 2024 [March 22nd, 2024]
- Why Super Micro Computer, Advanced Micro Devices, and Other Artificial Intelligence (AI) Stocks Tumbled on Tuesday - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- 3 Billionaires Are Selling Artificial Intelligence (AI) Stock Nvidia and Buying These 10 AI Stocks Instead - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Nvidia Just Bought 5 Artificial Intelligence (AI) Stocks. These 2 Stand Out the Most. - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- UN adopts first global artificial intelligence resolution - ARMENPRESS - March 22nd, 2024 [March 22nd, 2024]
- This New Artificial Intelligence (AI) Chip Is a Massive Game Changer for Nvidia Stock - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Nvidia Led the First Phase of Artificial Intelligence (AI), but These 2 Growth Stocks Will Lead the Next Phases ... - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Meet Wall Street's Newest Stock-Split Stock, Along With the Artificial Intelligence (AI) Stock Likeliest to Follow in Its ... - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Amid Rumors of a Deal With Rivian, Apple Acquired This Artificial Intelligence (AI) Start-Up Instead - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- UN adopts first global artificial intelligence resolution - CGTN - March 22nd, 2024 [March 22nd, 2024]
- 1 No-Brainer Artificial Intelligence (AI) Stock to Buy With $25 and Hold for 10 Years - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- 2 Artificial Intelligence (AI) Stocks That Could Make You a Millionaire - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Is Intel the Best Artificial Intelligence (AI) Semiconductor Stock to Buy Before It Skyrockets? - The Motley Fool - February 20th, 2024 [February 20th, 2024]
- The greater social implications of artificial intelligence - New Day NW - KING5.com - February 20th, 2024 [February 20th, 2024]
- AI comes to the world of beauty as eyelash robot uses artificial intelligence to place fake lashes - Fox News - February 20th, 2024 [February 20th, 2024]
- Beyer Appointed To Bipartisan Task Force On Artificial Intelligence - Falls Church News Press - February 20th, 2024 [February 20th, 2024]
- Why Did Nvidia Invest in These 5 Artificial Intelligence (AI) Stocks? Should You Buy Them, Too? - The Motley Fool - February 20th, 2024 [February 20th, 2024]
- Three key themes on artificial intelligence - Research Information - February 20th, 2024 [February 20th, 2024]
- How Artificial Intelligence is transforming consumerism - WFLA - February 20th, 2024 [February 20th, 2024]
- SAP names Philipp Herzig as chief artificial intelligence officer - CIO - February 20th, 2024 [February 20th, 2024]
- Unleashing the Power of Artificial Intelligence: Transforming Web-Based Applications for Enhanced Efficiency and User ... - Financialbuzz.com - February 20th, 2024 [February 20th, 2024]
- Koch Industries continues to accelerate its artificial intelligence initiative - The Business Journals - February 20th, 2024 [February 20th, 2024]
- Forget Nvidia: These 3 Artificial Intelligence (AI) Stocks Can Be the Next Stock-Split Stocks - The Motley Fool - February 20th, 2024 [February 20th, 2024]
- Artificial Intelligence for small business focus of upcoming JWCC Lunch and Learn on Feb. 28 Muddy River News - Muddy River News - February 20th, 2024 [February 20th, 2024]
- Opponents Highlight the Environmental Impact of Artificial Intelligence - News-Press Now - February 20th, 2024 [February 20th, 2024]
- Generative AI's environmental costs are soaring and mostly secret - Nature.com - February 20th, 2024 [February 20th, 2024]
- Chapter Summary: Genesis of Artificial Intelligence and a Scientific Revolution: 1950-1979 - EIN News - February 20th, 2024 [February 20th, 2024]
- What would Thomas Aquinas make of Artificial Intelligence? - ACI Africa - February 20th, 2024 [February 20th, 2024]
- ChatGPT Predicted Bitcoin Price Will "Skyrocket" - Cryptonews - February 20th, 2024 [February 20th, 2024]
- Worried About an Artificial Intelligence (AI) Stock Bubble? Consider This Billionaire Investor's Advice. - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- This Super Artificial Intelligence (AI) Stock Could Be at the Beginning of a Terrific Bull Run - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- 5 Artificial Intelligence (AI) Stocks That Could Make You a Millionaire - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- Will AI replace Colorado teachers? Here's what experts say. - The Colorado Sun - February 20th, 2024 [February 20th, 2024]
- Nvidia Could Be About to Counter a Big Artificial Intelligence (AI) Threat With This Move - Yahoo Finance - February 20th, 2024 [February 20th, 2024]
- The Healthiest U.S. Pharma Companies: Ranked by RealRate's Impressive Artificial Intelligence - Medium - February 20th, 2024 [February 20th, 2024]
- Down 84%, Is This Artificial Intelligence (AI) Stock a Buy After an Earnings Pop? - The Motley Fool - February 20th, 2024 [February 20th, 2024]
- 'AI for Humans' may be the most entertaining way to learn about artificial intelligence - Fast Company - February 20th, 2024 [February 20th, 2024]