Bank of America and Harvard University have collaborated on a new initiative designed to make the complex technologies behind artificial intelligence (AI) and machine learning (ML) more universally beneficial and accessible to the global workforce. The mission of the newly formed Council on the Responsible Use of Artificial Intelligence is to address issues of policy and ethics, thereby enabling industries and the individuals who drive them to keep pace with the rapidly evolving interface between people and machines.
Through the development of best practices and by maintaining a transparent dialogue, the Council strives to leverage the speed and convenience that AI and ML can provide industries such as finance, healthcare, retail, manufacturing and others. Bank of America’s chief operations and technology officer, Cathy Bessant, is a founding member of the council, which was formed in April 2018.
“I started thinking about the implications of the potential uses for artificial intelligence about 18 months ago,” she explained. “A huge piece of this is my own workforce here at Bank of America. In the face of ever-increasing technological change, how do we keep a workforce engaged and motivated? How are we thinking proactively about career development and career transformation? Can somebody who processes [data] manually today learn artificial intelligence, or learn how to manage a team of bots or machines that create outcomes in place of people?”
Therein lies the rub with artificial intelligence in a world that may not be quite ready for its benefits and, as some would say, possible pitfalls. While AI possesses vast potential for simplifying our lives, Bessant’s concerns are validated by the fact that many people view it as a threat to their livelihoods, creating skepticism and, in extreme cases, fear.
To help change the current ideology, the Council was formed to research the latest developments in this emerging technology and to educate the populace on its legal and moral implications, as well as to develop better, more useful and responsible ways to utilize a gift that is still widely misunderstood.
![](https://www.nanoappsmedical.com/wp-content/uploads/2017/05/spacer.jpg)
Image Credit: From the article on pymnts.com
News This Week
Breakthrough in Antimicrobial Technology with Cinnamon-Based Nanokiller
The need for innovative antimicrobial agents has become increasingly urgent due to the rise of antibiotic-resistant pathogens and the persistent threat of infections acquired during hospital stays. Traditional antibiotics and antiseptics are often ineffective [...]
The Silent Battle Within: How Your Organs Choose Between Mom and Dad’s Genes
Research reveals that selective expression of maternal or paternal X chromosomes varies by organ, driven by cellular competition. A new study published today (July 26) in Nature Genetics by the Lymphoid Development Group at the MRC [...]
Study identifies genes increasing risk of severe COVID-19
Whether or not a person becomes seriously ill with COVID-19 depends, among other things, on genetic factors. With this in mind, researchers from the University Hospital Bonn (UKB) and the University of Bonn, in [...]
Small regions of the brain can take micro-naps while the rest of the brain is awake and vice versa
Sleep and wake: They're totally distinct states of being that define the boundaries of our daily lives. For years, scientists have measured the difference between these instinctual brain processes by observing brain waves, with [...]
Redefining Consciousness: Small Regions of the Brain Can Take Micro-Naps While the Rest of the Brain Is Awake
The study broadly reveals how fast brain waves, previously overlooked, establish fundamental patterns of sleep and wakefulness. Scientists have developed a new method to analyze sleep and wake states by detecting ultra-fast neuronal activity [...]
AI Reveals Health Secrets Through Facial Temperature Mapping
Researchers have found that different facial temperatures correlate with chronic illnesses like diabetes and high blood pressure, and these can be detected using AI with thermal cameras. They highlight the potential of this technology [...]
Breakthrough in aging research: Blocking IL-11 extends lifespan and improves health in mice
In a recent study published in the journal Nature, a team of researchers used murine models and various pharmacological and genetic approaches to examine whether pro-inflammatory signaling involving interleukin (IL)-11, which activates signaling molecules such [...]
Promise for a universal influenza vaccine: Scientists validate theory using 1918 flu virus
New research led by Oregon Health & Science University reveals a promising approach to developing a universal influenza vaccine—a so-called "one and done" vaccine that confers lifetime immunity against an evolving virus. The study, [...]
Leave A Comment