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What AI Experts Fear from AI

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These are some of the outcomes that AI developers fear will come from their work, according to a new report issued today by the Deloitte AI Institute and the U.S. Chamber of Commerce. Titled "Investing in trustworthy AI," the 82-page report from Deloitte and the Chamber Technology Engagement Center sought to identify the concerns that technology experts have when it comes to the adoption of AI, as well as highlight the impact that government investment in AI can have on the emerging technology. Algorithmic bias and a lack of humans in decision loops are concerns for about two-thirds of the 250 people who participated in the survey. Another 60% identified "rogue or unanticipated behavior" of autonomous agents as a threat, while 56% said the lack of explainability of algorithms was a concern. "Perceived, and actual, discrimination by AI systems undermines the confidence individuals have in whether they are being given a fair opportunity when AI is involved," the report stated.


What AI Experts Fear From AI - AI Summary

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Titled "Investing in trustworthy AI," the 82-page report from Deloitte and the Chamber Technology Engagement Center sought to identify the concerns that technology experts have when it comes to the adoption of AI, as well as highlight the impact that government investment in AI can have on the emerging technology. For instance, the survey found that 66% of respondents indicated that "the government could mitigate unwanted biases" and found 69% suggested that "the government could encourage accountability for AI decisions." Two-thirds of survey-takers want the government to reduce the impact of job loss due to AI, while 72% said the government could "mitigate acceleration of social divides between workers with and without AI skills." "Broadly, respondents overwhelmingly supported the notion that government intervention could enhance the benefits of AI and thus contribute to increased AI trustworthiness," the report states. One-quarter of patents granted by the United States Patent and Trademark Office use AI technologies in some shape or form, reports Deloitte, which claims that the economic impact of AI will be somewhere between $447 billion and $1.43 trillion over the next five years.


Why building employee trust is the next frontier for AI in HR

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Artificial intelligence--long predicted to be a game-changer in HR--already is making its mark on the industry. AI is fueling new workplace innovations, improving employee safety and reducing low-value or repetitive work, yielding direct workplace benefits, especially in the area of engagement and productivity. Yet, according to Beena Ammanath, executive director of the Deloitte AI Institute, a key factor in achieving success with AI involves building trust among businesses and employees that adopting it will be good for the economy and society. A recent survey from the Deloitte AI Institute, which connects organizations, think tanks and government leaders on all aspects of AI, and the U.S. Chamber of Commerce found a deep interest in the ethical use of AI innovation and investments among the 250 respondents--mostly senior leaders involved in AI projects at primarily large, U.S-based businesses across a range of industries. The survey specifically included those in HR roles, along with IT/data and research and development, "because of their likely exposure to AI technologies and their impacts," the authors wrote.


Digital Innovation Transforming the Banking Industry

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While new entrants are changing the face of banking, traditional financial institutions can still dominate by partnering, hiring, crowdsourcing, and piloting new solutions that focus on the customer experience. There is no lack of rhetoric around the'disruption of the banking industry.' Even without the answers to these questions, it is agreed that banking is going to look a lot different a decade from now (or maybe even by 2020). In the report, "Banking Reimagined: How Disruptive Forces will Radically Transform the Industry in the Decade Ahead", Deloitte examine how current and future trends will come together to influence the future of banking. The question surrounding the banking industry today is not whether the industry will be transformed, but how it will be transformed.


Digital Innovation Transforming the Banking Industry

#artificialintelligence

While new entrants are changing the face of banking, traditional financial institutions can still dominate by partnering, hiring, crowdsourcing, and piloting new solutions that focus on the customer experience. There is no lack of rhetoric around the'disruption of the banking industry.' Even without the answers to these questions, it is agreed that banking is going to look a lot different a decade from now (or maybe even by 2020). In the report, "Banking Reimagined: How Disruptive Forces will Radically Transform the Industry in the Decade Ahead", Deloitte examine how current and future trends will come together to influence the future of banking. The question surrounding the banking industry today is not whether the industry will be transformed, but how it will be transformed.