Category «Big Data»

AI in Finance and Banking, November 17, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government reports, NGO/IGO papers and conferences, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Five highlights from this post: The Financial Stability Implications of Artificial Intelligence; The transformative power of AI: economic implications and challenges; ECB Call for papers; Artificial Intelligence, Big Data, and the Path Ahead for Productivity; FSB Roundtable on Artificial Intelligence (AI) in Finance: Summary of key findings; and Concentrating Intelligence: Scaling and Market Structure in Artificial Intelligence.

Subjects: AI in Banking and Finance, Big Data, Financial System, Legal Research

ChatGPT is bullshit

Recently, there has been considerable interest in large language models: machine learning systems which produce human-like text and dialogue. Applications of these systems have been plagued by persistent inaccuracies in their output; these are often called “AI hallucinations”. Dr. Michael Townsen Hicks, Dr. James Humphries and Dr. Joe Slater argue that these falsehoods, and the overall activity of large language models, is better understood as bullshit in the sense explored by Frankfurt (On Bullshit, Princeton, 2005): the models are in an important way indifferent to the truth of their outputs. They distinguish two ways in which the models can be said to be bullshitters, and argue that they clearly meet at least one of these definitions. They further argue that describing AI misrepresentations as bullshit is both a more useful and more accurate way of predicting and discussing the behaviour of these systems.

Subjects: AI, Big Data, Information Management, Internet Resources, KM, Legal Research, Search Engines, Technology Trends

Rejecting Dogmas Around AI, User Privacy, and Tech Policy

The Markup’s Ross Teixeira had a virtual discussion with Jonathan Frankle, Chief Scientist at DataBricks, about the the ethics of companies using customer data to train models, the growing trend of integrating AI models into our personal devices and lives, and how people can get involved in policy conversations from national to local level.

Subjects: AI, Big Data, PDAs (Personal Digital Assistants), Privacy

Pete Recommends – Weekly highlights on cyber security issues, August 9, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Five highlights from this week: Nearly 3 billion people just had their data leaked!!; Text message exploits are scarier than ever, but you can protect yourself with these tips; Government IT systems in the hands of a single vendor puts agencies at risk; Apple says Safari protects your privacy. We fact-checked those claims; and Lawmakers look to clarify electronic medical device use in secure facilities.

Subjects: Big Data, Cybercrime, Cybersecurity, Data Mining, Financial System, Healthcare, Privacy, Search Engines, Search Strategies, Social Media

AI In Finance and Banking – July 15, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, papers by economists, NGO/IGOs, speeches, and industry white papers on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Six highlights from this post: We need bold minds to challenge AI, not lazy prompt writers, bank CIO says; Managing AI in banking: are we ready to cooperate?; The gen AI gender gap; Will User-Contributed AI Training Data Eat Its Own Tail?; Demand for Artificial Intelligence in Settlement Negotiations; and Artificial intelligence – a central bank’s view.

Subjects: AI, AI in Banking and Finance, Big Data, Economy, Financial System, Legal Research

Here’s how machine learning can violate your privacy

Jordan Awan, Assistant Professor of Statistics, Purdue University explains how machine learning has pushed the boundaries in several fields, including personalized medicine, self-driving cars and customized advertisements. Research has shown, however, that these systems memorize aspects of the data they were trained with in order to learn patterns, which raises concerns for privacy.

Subjects: AI, Big Data, Privacy

FTC Cracks Down on Telehealth Addiction Service, Monument, for Sharing Health Data

Katie Palmer reports on the April 11, 2024 Federal Trade Commission action against alcohol addiction telehealth company Monument, affirming its promise to crack down on digital health companies’ misuse of personal health data.

Subjects: Big Data, Government Resources, Healthcare, Legal Research, Privacy

AI in Banking and Finance, March 31, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, NGO/IGO papers, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Five highlights from this post: 55% of Business Leaders Concerned About the Safety of Future Bank Deposits: Report; Generative AI Is Coming for Your Bank. Maybe; How AI Could Rebuild America’s Middle Class; Market Power in Artificial Intelligence; Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector; and Impact of AI Adoption on Economic Dynamics through Habit Formation: Decision Making and Asset Pricing.

Subjects: AI in Banking and Finance, Big Data, Cybercrime, Cybersecurity, Government Resources