Mumbai (Maharashtra) [India], May 7 (ANI/NewsVoir): Since the dawn of the 2000s, Artificial Intelligence (AI) has been making waves through its penetration into various sectors. While AI helps increase efficiency and speed in a system, the lack of feedback when faced with errors has been a glaring concern. Recently developed Explainable Artificial Intelligence (XAI) technology tackles this issue by analyzing data to provide users with explanations for given issues and activities. Utilizing this technology to create investment strategies, Elystar aims to increase net returns by reducing machine/AI-made errors and thereby successfully leveraging the superior insights provided by AI. "Artificial Intelligence in finance is a relatively new concept that is still being explored and experimented upon. While few of the firms experimenting are sparingly using it for short-term trading, we have spent the past 15 months developing models to use it for long-term investments. One simple way to look at this concept is to compare it with Microsoft Excel. While Excel is used in different fields and by different people, it is used in various ways and forms. Similarly, AI has a number of variations in which it can be utilized, so no two approaches may be completely the same. AI not only helps us scale and analyze data rapidly, but the integration of Explainable AI allows us to understand and eliminate unwarranted biases to create a sound investment strategy," said Dr Satya Gautam Vadlamudi, Founder and CEO of Elystar.
Conventional algorithmic fairness is West-centric, as seen in its sub-groups, values, and methods. In this paper, we de-center algorithmic fairness and analyse AI power in India. Based on 36 qualitative interviews and a discourse analysis of algorithmic deployments in India, we find that several assumptions of algorithmic fairness are challenged. We find that in India, data is not always reliable due to socio-economic factors, ML makers appear to follow double standards, and AI evokes unquestioning aspiration. We contend that localising model fairness alone can be window dressing in India, where the distance between models and oppressed communities is large. Instead, we re-imagine algorithmic fairness in India and provide a roadmap to re-contextualise data and models, empower oppressed communities, and enable Fair-ML ecosystems.
Explainable AI enables a better adoption of AI by increasing the transparency and trustworthiness of AI solutions and outcomes. Explainable AI also reduces the risks associated with regulatory and reputational accountability for safety and fairness. Increasingly, these solutions are not only showing data scientists the input and the output of a model, but are also explaining the reasons the system selected particular models and the techniques applied by augmented data science and ML. Bias has been a long-standing risk in training AI models. Bias could be based on race, gender, age or location.
Neon, the artificial human prototype conceptualized by computer scientist and inventor Pranav Mistry, created waves recently. The President and CEO of Samsung's STAR Labs told ET in an exclusive interview that he created Neon because human beings are unable to connect with artificial intelligence (AI) assistants such as Apple's Siri. The Palanpur (Gujarat)-born Mistry, considered one of the best innovative minds in the world right now, said Neon will be a companion to the elderly and to those who are lonely and could even work as fashion models or news anchors. The 38-year-old also spoke about the dangers posed by AI,echoing Google parent Alphabet Inc's chief Sundar Pichai who recently called upon governments to regulate AI. Edited Excerpts: When you started thinking about Neon, what was the problem you were trying to solve?
As the Artificial Intelligence (AI) market in India matures, firms are looking at unavoidable changes in their workplace. The market is seeing technology leaders and large firms investing in this space. At the same time, a number of AI start-ups have mushroomed in India in the recent years. To stay competitive and relevant in the market, organisations would do well to rethink existing practices and develop newer business models and offerings. This would involve making use of technologies, such as machine learning, deep learning, computer vision and natural language processing, among others, to power intelligent systems.
Newer technologies such as Artificial Intelligence (AI), robotics and automation, 3D printing, mixed reality that combines virtual reality and augmented reality, and blockchain are not only disrupting and transforming business models and the lives of individuals, but also ushering in the so-called gig economy which envisages an environment in which temporary positions are common and organizations engage independent workers on short-term contracts. Lounge takes a look at how these technologies will affect us in the years to come.
Tata Consultancy Services' (TCS) global report states that 68% of companies use artificial intelligence (AI) for IT functions. However, 70% believe AI's greatest impact by 2020 will be in functions outside of IT such as aspects of customer service and marketing. AI is transforming the media industry, using chatbots to deliver services and optimising media buying spends. In India, customers have been able to experience subtle interventions of AI in their day-to-day functions, such as during interactions with their handheld device or recommendations from e-commerce portals and news feeds on their social media. However, the business ecosystem in India is yet to incorporate the full effectiveness of AI.
Microsoft CEO Satya Nadella spoke at a public event in India on Monday, stressing upon the immense potential of artificial intelligence (AI), calling it the "ultimate breakthrough" in technology. SEE ALSO: Here's why those tech billionaires are throwing millions at ethical AI "Because for all the advances in computer interface, there is nothing to beat language [the ability to do human-level speech recognition]," he said during a fireside chat with Nandan Nilekani -- India's premier technocrat and the brain behind the Aadhaar identification system. The chat was streamed live on the Microsoft Developer page on Facebook. Nadella and Nilekani were later joined by Binny Bansal, CEO of Flipkart, India's largest e-commerce company that announced a cloud partnership with Microsoft's Azure. Calling AI "the third run time", Nadella said, "If the operating system was the first run time, the second run time you could say was the browser, and the third run time can actually be the agent.