Wednesday January 29, 2020
Home Lead Story EU: Companies...

EU: Companies Working with AI Need to Install Accountability Mechanisms to Prevent Being Misused

The European Union initiative taps in to a global debate about when or whether companies should put ethical concerns before business interests

0
//
AI
FILE - An activist from the Campaign to Stop Killer Robots, a coalition of non-governmental organizations opposing lethal autonomous weapons or so-called 'killer robots', protests at Brandenburg Gate in Berlin, Germany, March, 21, 2019. VOA

Companies working with artificial intelligence need to install accountability mechanisms to prevent its being misused, the European Commission said on Monday, under new ethical guidelines for a technology open to abuse.

AI projects should be transparent, have human oversight and secure and reliable algorithms, and they must be subject to privacy and data protection rules, the commission said, among other recommendations.

The European Union initiative taps in to a global debate about when or whether companies should put ethical concerns before business interests, and how tough a line regulators can afford to take on new projects without risking killing off innovation.

AI
AI projects should be transparent, have human oversight and secure and reliable algorithms. Pixabay

“The ethical dimension of AI is not a luxury feature or an add-on. It is only with trust that our society can fully benefit from technologies,” the Commission digital chief, Andrus Ansip, said in a statement.

AI can help detect fraud and cybersecurity threats, improve healthcare and financial risk management and cope with climate change. But it can also be used to support unscrupulous business practices and authoritarian governments.

The EU executive last year enlisted the help of 52 experts from academia, industry bodies and companies including Google , SAP, Santander and Bayer to help it draft the principles.

Companies and organizations can sign up to a pilot phase in June, after which the experts will review the results and the Commission decide on the next steps.

AI
AI has the potential to increase India’s annual growth. Pixabay

IBM Europe Chairman Martin Jetter, who was part of the group of experts, said guidelines “set a global standard for efforts to advance AI that is ethical and responsible.”

ALSO READ: Pinterest to Set Conservative Price Range in Initial Offering of Shares

The guidelines should not hold Europe back, said Achim Berg, president of BITKOM, Germany’s Federal Association of Information Technology, Telecommunications, and New Media.

“We must ensure in Germany and Europe that we do not only discuss AI but also make AI,” he said. (VOA)

Next Story

Paytm Payments Bank Announces Artificial Intelligence Driven Security Measures To Protect Transactions

The company said it has a dedicated team of over 200 cybersecurity experts and industry stalwarts to ensure round the clock security of every user transaction

0
Paytm
One of the new features on Paytm Payments Bank analyses 'rogue' apps on user devices which might trigger fraudulent transactions and advises users to uninstall them. Wikimedia Commons

Paytm Payments Bank on Monday announced Artificial Intelligence (AI)-driven security measures to safeguard users from fraudsters and protect their transactions.

One of the new features analyses ‘rogue’ apps on user devices which might trigger fraudulent transactions and advises users to uninstall them.

The bank is also leveraging AI to instantly detect suspicious transactions.

Depending on the identified threat level of a transaction, the AI either slows it down or completely blocks the payment from getting completed, the company said in a statement.

“This security feature will scan the apps installed on the user device and will pop-up a security alert whenever a dangerous app is found that may put the users’ accounts at risk,” said Satish Gupta, MD & CEO of Paytm Payments Bank.

No transactions will be possible until the user uninstalls that fraudulent app.

“A large number of our users have welcomed this move. We have already seen cases where these features have stopped attempts to defraud our customers,” Gupta added.

The company said it has a dedicated team of over 200 cybersecurity experts and industry stalwarts to ensure round the clock security of every user transaction.

Paytm
Paytm Payments Bank on Monday announced Artificial Intelligence (AI)-driven security measures to safeguard users from fraudsters and protect their transactions. IANS

The teams are closely working with all state and central police forces and cyber-cells as well as telecom companies to detect, prevent and report fraudulent transactions for immediate action, informed the company.

The bank has submitted a comprehensive list of 3,500 phone numbers involved in SMS and call scams to authorities.

ALSO READ: Instagram Experiences Highest Outrage While Twitter Reports Least in Q4

It has filed an FIR against these criminals with the Cyber Cell for an immediate action to stop the scam. (IANS)