Tag: AI

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AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.
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Facial Recognition Technology – Good or Bad?
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A New Type of Cyberattack: AI-Powered Cyberattacks

AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.

By Cameron Abbott and Max Evans

We live in an era where the adoption and use of Artificial Intelligence (AI) is at the forefront of business advancement and social progression. Facial recognition technology software is used or is being piloted to be used across a variety of government sectors, whilst voice recognition assistants are becoming the norm both in personal and business contexts. However, as we have blogged previously on, the AI ‘bandwagon’ inherently comes with legitimate concerns.

This is no different in the banking world. The use of AI-based phishing detection applications has strengthened cybersecurity safeguards for financial institutions, whilst the use of “Robo-Advisers” and voice and language processors has facilitated efficiency by increasing the pace of transactions and reducing service times. However, this appears to sound too good to be true, as according to a Report by CIO Drive, algorithmic lending models may show an unconscious bias.

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Facial Recognition Technology – Good or Bad?

By Cameron Abbott, Michelle Aggromito and Jacqueline Patishman

As of June 2019, law enforcement agencies are working with the city of Perth in running a 12-month trial in the use of facial recognition software. The trial involves the installation of the software in 30 CCTV cameras and is part of the Federal Government’s Smart Cities plan, which was created with the aim of increasing interconnectivity and building intelligent, technology-enabled infrastructure throughout Australia.

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