Thursday September 19, 2019
Home India Facebook Assi...

Facebook Assigns A Task Force For The Elections in India in 2019

Facebook said that India was an important market for Facebook and that it was strengthening the team in India to understand the local forms of hate speech.

0
//
Fake News, Facebook, dating
Intel, Facebook working on cheaper AI chip. VOA

 Facing the uphill task of tackling election-related interference on its platform as India gets ready for polls next year, Facebook on Saturday said it is establishing a task force comprising “hundreds of people” in the country to prevent bad actors from abusing its platform.

“With the 2019 elections coming, we are pulling together a group of specialists to work together with political parties,” Richard Allan, Facebook’s Vice President for Global Policy Solutions, told the media here.

Facebook has also set a goal of bringing a transparency feature for political ads — now available in the US and Brazil — to India by March next year, Allan informed.

With the new ad architecture in place, people would be able to see who paid for a particular political ad.

Facebook, India
This photo shows a Facebook app icon on a smartphone in New York. VOA

In May this year, Facebook announced that all election-related ads on Facebook and Instagram in the US must be clearly labelled — including a “Paid for by” disclosure from the advertiser at the top of the ad.

When users click on the label, they would be taken to an archive with more information such as the campaign budget associated with an individual ad and how many people saw it – including their age, location and gender, Facebook had said.

The social media giant later introduced the transparency feature in Brazil.

The introduction of the same feature in India would help users identify political propaganda easily.

“The task force for India will have security specialists and content specialists, among others, who will try to understand all the possible forms of election-related abuse in India,” added Allan during a workshop on Facebook’s “community standards” in the capital.

India
A gardener works on the lawns of the Supreme Court in New Delhi, India. VOA

Allan explained that while the disinformation linked to real-world violence is checked by the team mandated to maintain Facebook’s community standards, other forms of disinformation are handled by a different team of fact checkers.

“The challenge for the task force in India would be to distinguish between real political news and political propaganda,” Allan noted, adding that the team would be very much based in the country and would consist of both existing human resources working on these issues within the company and new recruits.

Facebook came under intense scrutiny of policy makers in the US after allegations of Russia-linked accounts using the social networking platform to spread divisive messages during the 2016 presidential election surfaced.

Since then, it has stepped up efforts to check abuse of its platform by bringing in more transparency in the conduct of its businesses, including in advertisement policies.

India, BJP
Counting of Karnataka polls will be done on 15th May, VOA

Echoing Facebook CEO Mark Zuckerberg’s earlier comments on elections across the world, Allan said the social media platform “wants to help countries around the world, including India, to conduct free and fair elections”.

In April, Zuckerberg said Facebook will ensure that its platform is not misused to influence elections in India and elsewhere.

“Our goals are to understand Facebook’s impact on upcoming elections — like Brazil, India, Mexico and the US midterms — and to inform our future product and policy decisions,” he told US lawmakers during a hearing.

Facebook uses a combination of technology, including Machine Learning (ML) and Artificial Intelligence (AI), and reports from its community to identify violating content on the platform.

The reports are reviewed by members of its “Community Operations” team who review content in over 50 languages in the world, including 12 from India.

Facebook, India
Facebook CEO Mark Zuckerberg delivers the keynote address at a Facebook developers conference in San Jose, California. VOA

“By the end of 2018, we will have 20,000 people working on these issues, double the number we had at the same time last year,” he said.

“We are also working to enhance the work we do to proactively detect violating content,” Allan said.

Speaking at the 16th Hindustan Times Leadership Summit here later in the day, Allan said Facebook was cooperating fully with the investigating agency (Central Bureau of Investigation) in India with regard to the Cambridge Analytica data leak scandal.

The British political consultancy firm was in the midst of a huge controversy for allegedly inappropriately harvesting data from about 87 million Facebook accounts.

Without giving details of the impact that the Cambridge Analytica scandal had on India, he said that the impact was probably limited and that most users in India need not worry that their data was stolen.

Also Read: Facebook Better Prepared to Defend Itself Against External Manipulation For The Elections

“Yes, we have a responsibility to keep data safe. We employ some of the best security engineers in the world. When we notice a breach, we let people know immediately,” Allan said at the summit.

“We are investing more and more in countries outside the US so that they can tell us how our services should be designed,” he said, adding that India was an important market for Facebook and that it was strengthening the team in India to understand the local forms of hate speech. (IANS)

Next Story

India Grapples with Credit Issues

While the framework utilised by the rating agencies that has led to a delay in ratings relaying the correct credit information to market participants

0
India, Credit, Issues
Recent news whereby credit downgrades have just preceded defaults by Non-Banking Financial Companies (NBFCs) is a case in point. Pixabay

As India grapples with credit issues, one of the primary factors that needs analysis is the broken transmission mechanism that relays credit quality to market participants. In common parlance, the transmission mechanism that provides information regarding the credit quality of the borrower to the lenders is unable to do so efficiently. Recent news whereby credit downgrades have just preceded defaults by Non-Banking Financial Companies (NBFCs) is a case in point.

While the framework utilised by the rating agencies that has led to a delay in ratings relaying the correct credit information to market participants is partially to blame for the inefficacious credit transmission mechanism, issues around rating agencies are only part of the problem. For sure, rating agency regulations must be improved, but we must also realise that “credit market frameworks” are much more than ratings.

We must realise that credit ratings have limitations in terms of predicting credit cycle ups and downs. This phenomenon isn’t limited to just India but is a global feature. The inability of the credit rating mechanism to adequately price in and predict the credit cycle implies that a multi-pronged approach is needed to ensure that the credit quality transmission mechanism works effectively. Essentially, India needs to develop other features of the credit market that will assist market participants in gauging credit quality, thereby reducing the risk of a “jump-to-default” scenario we have witnessed repeatedly over the last 12 months.

Indian policymakers need to start working on a framework that will allow a liquid and deep secondary market to develop in credit products. Credit products here refers to the entire universe of lending, including bonds, loans and other instruments. Market pricing of products and risk and therefore increased participation by investors will help in “price discovery” of the credit quality. Constant pricing of credit risk and the concomitant information and structure that entails will imply that lenders will have a better information set with which to make informed credit decisions.

India, Credit, Issues
As India grapples with credit issues, one of the primary factors that needs analysis is the broken transmission mechanism that relays credit quality to market participants. In common parlance, the transmission mechanism that provides information regarding the credit quality of the borrower. Pixabay

A market that allows for secondary liquidity, albeit even small amounts to start with, will also incentivise borrowers to manage their credit profile better. More importantly, a secondary market for credit instruments will go a long way towards avoiding the bunching of credit as it happens in today’s market. A credit market has a cycle, and without the existence of a robust secondary market, in expansionary credit cycles, poor quality credit gets excessive access to capital. On the contrary, once the credit cycle contracts credit access for all businesses is diminished to a great extent.

We must work towards breaking the above trend that has plagued the Indian economy significantly. A secondary market for credit instruments will incentivise both lenders and borrowers to behave in a way such that the entire available pool of credit goes towards the most optimal usage.

Policymakers also need to start utilising vehicles similar to Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs) to allow for the pooling of credit instruments. While debt mutual funds exist in the market, the aim of the new “credit pooling vehicles” will be to enable institutional investors to access credit instruments across the spectrum, and not just limited to certain corporate bonds. Access to vehicles that allow for greater liquidity and transparency will go a long way in increasing the capital availability and investor participation in Indian credit markets.

As India looks to boost economic growth, it is essential to realise the credit interlinkages in the economy. To boost exports, a primary aim in India, credit access will be a vital component, if not the most important. If credit is constrained by inefficiencies in the credit information transmission mechanism and therefore leads to inefficient lending in the real estate sector, then it is essential to realise that not only is the real estate sector severely affected but so are other areas such as exports. Primarily, an improved credit framework will lead to both higher availability of capital and credit availability at more affordable rates.

Also Read- Swedish Teen Climate Activist Urging Law Makers to “Listen to the Science” and Take Action

Credit markets, like all businesses, will move in cycles. Indian policymakers must aim to start building on the blocks that will allow credit downturns to be less severe and shorter. The ability to provide the market access to better information and investment structures will go a long way in improving credit pricing, and thereby credit access. (IANS)