IBM called for rules aimed at eliminating bias in artificial intelligence to ease concerns that the technology relies on data that bakes in past discriminatory practices and could harm women, minorities, the disabled, older Americans and others. As it seeks to define a growing debate in the U.S. and Europe over how to regulate the burgeoning industry, IBM urged industry and governments to jointly develop standards to measure and combat potential discrimination. The Armonk, New York-based company issued policy proposals Tuesday ahead of a Wednesday panel on AI to be led by Chief Executive Officer Ginni Rometty on the sidelines of the World Economic Forum in Davos. The initiative is designed to find a consensus on rules that may be stricter than what industry alone might produce, but that are less stringent than what governments might impose on their own. "It seems pretty clear to us that government regulation of artificial intelligence is the next frontier in tech policy regulation," said Chris Padilla, vice president of government and regulatory affairs at International Business Machines Corp. The 108-year-old company, once a world technology leader, has lagged behind the sector for years.

Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24. IBM called for rules aimed at eliminating bias in artificial intelligence to ease concerns that the technology relies on data that bakes in past discriminatory practices and could harm women, minorities, the disabled, older Americans and others. As it seeks to define a growing debate in the U.S. and Europe over how to regulate the burgeoning industry, IBM urged industry and governments to jointly develop standards to measure and combat potential discrimination. The Armonk, New York-based company issued policy proposals Tuesday ahead of a Wednesday panel on AI to be led by Chief Executive Officer Ginni Rometty on the sidelines of the World Economic Forum in Davos. The initiative is designed to find a consensus on rules that may be stricter than what industry alone might produce, but that are less stringent than what governments might impose on their own. "It seems pretty clear to us that government regulation of artificial intelligence is the next frontier in tech policy regulation," said Chris Padilla, vice president of government and regulatory affairs at International Business Machines Corp.

The big story in mortgages today is the rise in mortgage loan rates. For the first time in years, we're seeing 30-year fixed mortgage rates consistently above 4%, and a 5% rate is in sight. Higher rates make sense if you look at it one way: the economy is strong, inflation is climbing, and it's safe to expect Federal Reserve hikes in 2018 and 2019. Industry veterans might be sighing with relief. In the 10 years since the burst of the housing bubble, we've seen a slow economic recovery, a federal funds rate stuck at 0, and 30-year mortgage rates in the high 3% range for fixed-rate loans and lower for floating-rate loans.

In summer 2007, the Los Angeles County median home price hit an all-time high of $550,000. It soon plunged as the housing bubble burst and the national economy crashed. Now the median, the point where half the homes sold for more and half for less, has finally passed the heights of 10 years ago -- the result of an improving economy, historically low mortgage rates and a shortage of listings. According to a report released Wednesday from real estate firm CoreLogic, the county's median price in May rose 6.8% from a year earlier to reach $560,500 as sales jumped 4.8%. When adjusted for inflation, May's median remains 11% below the 2007 high, though the nominal record comes amid fresh concerns over the high cost of housing in California.