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
Saunas Activate Your Immune System
A brief sauna session may quietly mobilize the immune system. A sauna session may do more than raise your heart rate and body temperature. A new study from Finland found that it also briefly [...]
Why music from your youth still has such an intense effect years later: A psychological perspective
You're driving, and suddenly a familiar song fills the air. Before you even know it, a wave of emotions comes over you – not just memories, but a deep, almost physical feeling. This powerful [...]
AI to antibody in days: breaking the wet lab bottleneck via high-throughput integration
The role of artificial intelligence (AI) in drug design has fundamentally shifted from a speculative tool to a central pillar of pharmaceutical research and development (R&D). Sino Biological plays a critical role in this [...]
Regenerative Healthcare by Design: Engineering Health-Centric Buildings and Urban Ecosystems
Introduction The next evolution of healthcare will not be confined to hospitals, clinics, or episodic interventions—it will be embedded into the infrastructure of everyday life. Regenerative health ecosystems require a systemic re-architecture of how [...]
Scientists Warn: Humanity Has Pushed the Planet Past Its Limits
Human population and consumption have surpassed Earth’s limits, increasing risks to climate and global stability. The Earth is already operating beyond its capacity to sustainably support the global population, according to new research highlighting [...]
Breakthrough Study Reveals Why Damaged Nerves Struggle To Heal
A newly identified molecular mechanism reveals how neurons weigh survival against repair after injury. Scientists at the Icahn School of Medicine at Mount Sinai have identified a molecular switch in neurons that limits the regrowth of [...]
Popular Vitamin B3 Supplements May Help Cancer Cells Survive, Scientists Warn
A new study raises important questions about widely used NAD+ supplements, suggesting that compounds often taken to boost energy and support healthy aging may have unintended consequences in cancer treatment. Millions of Americans take [...]
Scientists Discover Cancer Tumors Are “Addicted” to This Common Antioxidant
Cancer cells may be exploiting a common antioxidant as fuel, revealing a potential weakness that future therapies could target. Cancer cells may be tapping into an unexpected energy source: an antioxidant long associated with [...]
Leave A Comment