How machine learning can help banks rate credit risk

Credit risk is one of the major financial challenges that exist in the banking system. Yet, so far many lenders have been slow to fully utilise the predictive power of digitising risk. This is despite a recent report from McKinsey showing that machine learning may reduce credit losses by up to 10 per cent, with over half of risk managers expecting credit decision times to fall by 25 to 50 per cent. Why? Auditability. Traditional scorecards often make it easier to explain how a customer was...

13 June 2018 | Machine Learning

Uber wants to develop an intoxication-detecting algorithm

uber ai algorithm drunk assault

Uber has filed a patent for a machine learning algorithm which can predict whether a rider is sober or not to improve the safety of its service. The sobriety of a passenger is a big factor in the safety of both driver and rider. Drivers have been assaulted by inebriated passengers, and most of the sexual assaults conducted against Uber riders by drivers have been while they were intoxicated. According to a CNN investigation, at least 103 Uber drivers have been accused of sexually assaulting...

12 June 2018 | Machine Learning

E3 2018: Xbox FastStart uses machine learning to get into content faster

During its E3 2018 presentation, Xbox announced it's taking advantage of Microsoft’s machine learning expertise for its FastStart feature. FastStart learns how gamers play and what files are needed to be downloaded first. Microsoft claims this can half the time it takes for a user to get into their new content — if it previously took 30 minutes to download and play, it will now take just 15 minutes. Xbox has long had a similar ‘Ready to Start’ system where games can be played...

11 June 2018 | Gaming

Don’t Be Evil: Google publishes its AI ethical principles following backlash

google ai ethical principles dont be evil

Following the backlash over its Project Maven plans to develop AI for the US military, Google has since withdrawn and published its ethical principles. Project Maven was Google’s collaboration with the US Department of Defense. In March, leaks indicated that Google supplied AI technology to the Pentagon to help analyse drone footage. The following month, over 4,000 employees signed a petition demanding that Google's management cease work on Project Maven and promise to never again...

8 June 2018 | Ethics

MIT created a psychopathic AI based on Norman Bates

mit ai psychopath norman media lab bias

While many researchers are calling for regulations to ensure safe and ethical AI development, MIT has created one with a psychopathic personality. The scientists, from MIT’s unconventional Media Lab, based their AI’s personality on serial killer Norman Bates from Hitchcock thriller Psycho. AI Norman is designed to caption images. Whereas most neural networks are trained on a range of images to reduce bias, poor Norman was exposed 'to the darkest corners of Reddit.' Anyone who has found...

6 June 2018 | Ethics

Apple aims to simplify AI models with CreateML and Core ML 2

apple coreml createml ai

During its annual WWDC event, Apple announced the launch of its CreateML tool alongside the sequel of its Core ML framework. CreateML aims to simplify the creation of AI models. In fact, because it’s built in Swift, it’s possible to use drag-and-drop programming interfaces like Xcode Playgrounds to train models. Core ML, Apple’s machine learning framework, was first introduced at WWDC last year. This year, the company has focused on making it leaner and meaner. Apple claims Core ML 2...

5 June 2018 | Apple

Opinion: The risks of AI in remote medical consulting

With the increasing use of AI in healthcare, a warning from medical union MDDUS of the ‘inherent risks in remote consulting' offers a timely reminder of the potential dangers. Following our story yesterday on Samsung’s partnership with Babylon Health, an NHS consultant reached out with his (puzzling) experience of Babylon’s technology:

Just when you thought the @babylonhealth #AI #Chatbot couldn't get any worse...

I gave it the most basic of medical...

1 June 2018 | Healthcare

See how AI can identify dangerous bacteria in water supplies

According to the World Health Organization, a baby dies every minute from infection caused by a lack of safe water and an unclean environment. Testing water typically requires expensive equipment and manual analysis, making it hard for many communities to ensure their water is safe. This is the challenge that Peter Ma has taken on. He took part in the World Virtual GovHack, described as a "global village hackathon". It aims to encourage students and start-ups to tackle difficult problems with...

30 May 2018 | Healthcare

DSTL will run Ministry of Defence’s AI research lab

UK Defence Secretary Gavin Williamson has announced the creation of an AI research lab based at the Defence Science and Technology Laboratory (DSTL) in Porton Down, as part of an initiative by the Ministry of Defence. The lab will focus on advancing the use of AI for defence purposes to ensure the UK remains able to counter evolving threats. Dstl currently delivers more than £20 million of AI research. Specific focuses of the new facility will include autonomous vehicles, countering fake...

29 May 2018 | Government

Russian startup is building a controversial ‘ethnicity-detecting’ AI

A startup from Russia is building an AI which uses facial recognition to determine ethnicity, prompting fears it could be used for automated racial profiling. NtechLab lists ‘ethnicity detection’ as an upcoming feature of its solution. The algorithm promises the ability to examine people and determine their ethnicity. An image, which has since been pulled as the result of backlash, showed classifications of people including ‘European’, ‘African’, and ‘Arabic’. The company is...

25 May 2018 | Privacy