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Will evolving regulations stymie AI innovations?


"A model is as good as the underlying data," said Jayachandran Ramachandran, SVP of Artificial Intelligence Labs at Course5 Intelligence during his MLDS talk "Will evolving regulations stymie AI innovations? He discussed how industries and governments recognise this problem and develop regulations and recommendations. He also touched on the recommendations and implications crelated to European Union's AI regulations draft. Today, most countries have an AI policy and strategies in place. The EU is at the forefront of AI regulations and drafts. "The EU draft in 2021 is acting as a benchmark for other countries," Ramachandran noted. The draft seeks to ensure the AI policy is human-centric, sustainable, secure, inclusive and trustworthy. Additionally, the draft focuses on a seamless transition of AI from the lab to the market. Any system deployed for the users based in the EU will be under the scope of this AI regulation. If the consumers are based outside the EU, they will not be held ...

Key applications of artificial intelligence (AI) in banking and finance


Artificial intelligence (AI) technology has become a critical disruptor in almost every industry and banking is no exception. The introduction of AI in banking apps and services has made the sector more customer-centric and technologically relevant. AI-based systems can help banks reduce costs by increasing productivity and making decisions based on information unfathomable to a human agent. Also, intelligent algorithms are able to spot anomalies and fraudulent information in a matter of seconds. A report by Business Insider suggests that nearly 80% of banks are aware of the potential benefits that AI presents to their sector. Another report suggests that by 2023, banks are projected to save $447 billion by using AI apps.

Update on Artificial Intelligence as a Patent Inventor


Our previous blog posts, Artificial Intelligence as the Inventor of Life Sciences Patents? and Update on Artificial Intelligence: Court Rules that AI Cannot Qualify As "Inventor," discuss recent inventorship issues surrounding AI and its implications for life sciences innovations. Continuing our series, we now look at the appeal recently filed by Stephen Thaler ("Thaler") in his quest to obtain a patent for an invention created by AI in the absence of a traditional human inventor. As we previously reported, on September 3, 2021, the U.S. District Court for the Eastern District of Virginia ruled that an AI machine cannot qualify as an "inventor" under the Patent Act, in a case that Thaler filed seeking, among other things, an order compelling the USPTO to reinstate his patent applications. Those patent applications name an AI system called "Device for Autonomous Bootstrapping of Unified Sentience" aka "DABUS," as the sole inventor. Thaler, who developed DABUS, remains the owner of any patent rights stemming from these applications.

How can AI Prevent Fraud?


Multinational technology corporation IBM calculated that 72% of business leaders cited fraud as a growing concern in the last year, that $44 billion will be lost worldwide due to fraud by 2024, and that a quarter of e-commerce sales transactions that were declined by artificial intelligence (AI) were false positives. AI has become the leading tool for fighting fraud, but it can still be improved upon. In the past, rule-based engines and simple predictive models were used to computationally identify the majority of fraud attempts. But these methods have not kept up with the increasingly sophisticated nature of fraud attacks today. With a proliferation of digital technologies at criminals' disposal, fraud has grown in both scale and severity over the last few decades. Large criminal organizations and even state-sponsored groups use AI-like machine learning (ML) algorithms to defraud digital businesses for millions of dollars each year.

Inventive AI: European Patent Office finds that only humans can be inventors


As artificial intelligence plays an increasingly important role in the R&D process, the premise that invention is a uniquely human characteristic is being challenged. Patent offices and courts around the world have recently been grappling with the question of whether an AI system can be the inventor of a patent. This has been prompted by Dr. Stephen Thaler's applications to designate his AI system (known as'DABUS') as the inventor of patents filed in multiple jurisdictions. Most recently, the appeal board of the European Patent Office (EPO) refused Dr. Thaler's patent applications because there was no valid inventor. Dr. Thaler, as part of the Artificial Inventor Project, is pursuing parallel patent applications across over fifteen jurisdictions which designate his AI system, DABUS, as the inventor.

Microsoft faces challenge cleaning up Activision Blizzard's culture

The Japan Times

The success of Microsoft's biggest deal ever rides on rehabilitating Activision Blizzard's culture, Microsoft CEO Satya Nadella declared after announcing the $69 billion transaction. Accomplishing that will require Microsoft to deviate from its usual hands-off approach on acquisitions to tackle what amounts to a "clean up" job of fixing the famed maker of the Call of Duty games franchise, which faces multiple accusations of sexual harassment and misconduct, analysts and management experts say. Microsoft has traditionally allowed the companies it acquires to run autonomously, RBC Capital Markets analyst Rishi Jaluria said. In recent years, Microsoft purchased LinkedIn, GitHub, Skype and Mojang, the Stockholm-based creator of the video game series Minecraft, all of which have not seen major changes since their acquisitions. The Activision deal announced on Tuesday will require a heavier hand.

Tesla driver faces felony charges in fatal crash involving Autopilot

Washington Post - Technology News

Federal regulators have also recently homed in on Autopilot over reports of crashes while it was activated. Over the summer the National Highway Traffic Safety Administration, the country's top federal auto safety regulator, launched a formal probe into a dozen crashes involving parked emergency vehicles while Autopilot was active. One person was killed and at least 17 people were injured in the crashes.

Activision Blizzard CEO addresses employees on layoffs, potential departure in 'fireside chat'

Washington Post - Technology News

On Tuesday, the tech and gaming industries woke up to shocking news that Microsoft would buy embattled gaming company Activision Blizzard, in one of the largest acquisitions in history. The acquisition is expected to be completed by June 2023, pending regulatory approval. Over the past six months, Activision Blizzard has been besieged by lawsuits from a California state agency, shareholders and employees who allege a "frat boy" corporate culture leading to sexual harassment and gender-based discrimination.

Brave Behind Bars: Prison education program focuses on computing skills for women


One of the co-founders, Martin Nisser, a PhD student from MIT's Computer Science and Artificial Intelligence Laboratory (CSAIL), explains the digital literacy and self-efficacy focused objectives: "Some of the women haven't had the opportunity to work with a computer for 25 years, and aren't yet accustomed to using the internet. We're working with them to build their capabilities with these modern tools in order to prepare them for life outside," says Nisser. Even for the students who became incarcerated more recently, it can be difficult to keep up with the fast pace of technological advances, since technical programs in correctional facilities are few and far-between. This scarcity of preparatory programs undoubtedly contributes to high and rising recidivism rates: More often than not, those who are released from prison eventually return. While working at TEJI, Nisser had a fortuitous meeting with his two co-founders, Marisa Gaetz (a PhD student from MIT's Department of Mathematics) and Emily Harburg (co-founder of Brave Initiatives, a nonprofit that develops coding bootcamps for young women).