Digital transformation’s acceleration has increased exposure to online frauds and scams, and according to a new report by Grand View Research, the rise of incidences — whether it’s mobile payment fraud, email phishing, or card fraud — increases the downstream impact on businesses and subsequent financial losses.
A PwC survey showed that in 2020 about 49% of companies had experienced fraud amounting to $42B in losses, and the cost of fraud for banks grew by 17% since 2019. This reality is increasing the investment companies are making in fraud detection and prevention (FDP).
Consumers interact with businesses via multiple digital…
At the ML Fairness Summit, we welcomed Fiddler Data Scientist, Léa Genuit to discuss intersectional group fairness. As more companies adopt AI, more people question the impact AI creates on society, especially on algorithmic fairness. However, most metrics that measure the fairness of AI algorithms today don’t capture the critical nuance of intersectionality. Instead, they hold a binary view of fairness, e.g., protected vs. unprotected groups.
In the below blog, Lea covers the latest research in research on intersectional group fairness. Key topics covered include:
Bias, understood to be an inclination or prejudice for or against one person or group, especially in a way considered to be unfair, is rife in AI and ML. In fact, algorithmic bias in AI systems can take varied forms such as gender bias, racial prejudice, and age discrimination.
In regard to bias in AI, it is widely recognized that there are two prominent types. These manifest themselves as cognitive bias, meaning that bias is inserted into algorithms through designers introducing them into models or using training data already inclusive of bias, and also lack of complete data, therefore not…
With AI scaling at a tremendous rate in the last few years and no sign of slowing down, there is an increasing need for an open discussion around the ethics and trustworthiness of AI, including regulatory and legal risks.
From Deepfakes which have facilitated million-pound fraudulent bank transfers to harmful gender stereotyping and racial bias, it is clear that we need regulations in place to create a safer, fairer world for everyone. In a recent Women in AI Podcast, Rachel Alexander, CEO, and Founder of Omina Technologies suggested that the key to ethical and explainable AI is:
“Making it clear…
We’re nearly at the halfway point of 2021, and we have seen some great developments utilizing AI in the Financial sector. We’ve handpicked our top videos from the AI Library which share the big advancements in finance using AI, NLP, Machine Learning, and more from the biggest financial institutions, including JPMorgan Chase, Vanguard, Scotiabank & Nasdaq.
Alongside the video presentations below, we’ve included chapter timestamps so you can jump to the key takeaways. Enjoy!
Kevin Kim, Data Scientist, Nasdaq
While Machine Learning and AI technologies are now advanced enough to outperform humans in a variety of tasks, how we make…
This Women in AI Podcast episode is with Juliet Waters, Chief Knowledge Officer at Kids Code Jeunesse, a Canadian charity with a mission to give every Canadian child access to digital skills education, with a focus on girls and underserved communities. KCJ teaches kids and their educators about topics including algorithm literacy and artificial intelligence, and how these integrate with the UN’s Sustainable Development Goals to give kids the confidence and creative tools they need to build a better future. Read more blogs like this and hear more from AI experts here.
We were delighted to host three brilliant AI minds working in the financial sector to a panel on our AI in Finance and RegTech Summit stage last week.
Speakers on this panel included Ronan Brennan, Strategy and Innovation Manager at NatWest, Mackenzie Wallace, Specialist in FinTech/RegTech at The World Bank, and David Bryan, Director of Presales at MANTA. The panel was broken down into the four themes listed below and was finished with a Q&A.
Avriel Epps Darling is a researcher, entrepreneur and artist. She is currently a PhD student at Harvard Graduate School of Education, seeking to make a meaningful impact through researching how online machine learning-driven ecologies influence the youth of colour, as they construct and affirm racialized and gendered identities.
Avriel has received numerous awards and honours, including an invitation from the US Department of Education to present her work for Congress. As well as recognition as part of the Top 10% of Undergraduate Social Scientists in The World. …
Author: Gizem Tas
The future of content marketing has been changed through the latest technological developments, especially with the generation of artificial intelligence (AI). AI functions by combining great amounts of data with fast and intelligent algorithms allowing the software to learn patterns and processes in the data automatically.
According to the predictions of AI experts, this exceptional year with the Covid-19 outbreak around the globe has accelerated the adoption of artificial intelligence in several areas and will result in the growing use of AI-based solutions in several fields. …
We met with Bill Fox, Healthcare and Life Sciences Lead at SambaNova Systems to find out more about making technological advancements and innovation a reality in the healthcare sector ahead of participating in the AI in Healthcare & Pharma Summit on 25–26 March.
You have an interesting background — from law to AI. How did that happen?
My legal career increasingly focused on two areas — healthcare and fraud. I litigated 100s of healthcare related cases and spent thousands of hours pouring over medical records and talking to doctors. I was Deputy Chief at one of the first cybercrime units…