Silicon Valley reckons it can give AI a conscience » Banking Technology

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LinkedIn founder Reid Hoffman is one of a host of investors bank-rolling a new initiative to develop ethics and governance standards for artificial intelligence (AI), reports Telecoms.com. The $27 million Ethics and Governance of Artificial Intelligence Fund, which also features Omidyar Network as a founder, will be built around not only engineers and corporations, but also social scientists, ethicists, philosophers, faith leaders, economists, lawyers and policymakers, with the intention of defining standards for AI both in the US and internationally. The team will aim to address such areas as ethical frameworks, moral values, accountability and social impact. "Artificial intelligence agents will impact our lives in every society on Earth. Technology and commerce will see to that," said Alberto Ibargüen, President of Knight Foundation, which has committed $5 million to the initiative.