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.
Image Credit: From the article on pymnts.com
News This Week
Tricking the novel coronavirus with a fake ‘handshake’
Scientists have developed protein fragments—called peptides—that fit snugly into a groove on the SARS-CoV-2 Spike protein that it would normally use to access a host cell. These peptides effectively trick the virus into "shaking hands" with a replica rather than with [...]
Researchers reveal genetic predisposition to severe COVID-19
HSE University researchers have become the first in the world to discover genetic predisposition to severe COVID-19. The results of the study were published in the journal Frontiers in Immunology. T-cell immunity is one of [...]
What Pseudoviruses Bring to the Study of SARS-CoV-2
When SARS-CoV-2 first began spreading across the globe, not every lab was equipped to study it directly. The virus behind the current pandemic is highly pathogenic and transmissible, leading the US Centers for Disease [...]
Covid-19: Future targets for treatments rapidly identified with new computer simulations
esearchers have detailed a mechanism in the distinctive corona of Covid-19 that could help scientists to rapidly find new treatments for the virus, and quickly test whether existing treatments are likely to work with [...]
Almost Half of Coronavirus Sufferers Report Depression
Almost half of people testing positive for coronavirus have reported symptoms of depression, according to a new study published in the International Journal of Environmental Research and Public Health. Researchers from Bangladesh, the United States [...]
Six previously FDA-approved drugs appear promising against SARS-CoV-2 in laboratory testing
A team of investigators from the Republic of China has discovered that 6 drugs previously approved by the US Food and Drug Administration (FDA) for other indications could be repurposed to treat or prevent [...]
Graphene could one day be used to make quick, reliable tests for viruses like SARS-CoV-2
Graphene is a layer of carbon only one atom thick. Since it was first isolated in 2004, it has found applications in strengthening materials, accelerating electronics, and boosting performance in batteries, among others. It [...]
UK spots 33 cases of ANOTHER Covid variant
Another Covid variant that could dodge vaccine-triggered immunity has been identified in the UK, scientists say. The strain — called B.1.525 — has been spotted 33 times already but experts say this could be [...]
Leave A Comment