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Facebook To Soon Come Up With Institute for Ethics in Artificial Intelligence

institute will help advance the growing field of ethical research on new technology and will explore fundamental issues affecting the use and impact of AI.

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institute will help advance the growing field of ethical research on new technology and will explore fundamental issues affecting the use and impact of AI. VOA

Facebook on Sunday said it will create an independent Institute for Ethics in Artificial Intelligence (AI) with an initial grant of $7.5 million.

In collaboration with the Technical University of Munich (TUM) in Germany, the institute will help advance the growing field of ethical research on new technology and will explore fundamental issues affecting the use and impact of AI.

The enterprise solutions major has integrated SAP CoPilot with the "SAP S/4HANA" Cloud.

“A tectonic shift is happening in AI. Nearly 85 per cent of enterprises globally will use AI in some form or the other by 2020. INT

“The institute will conduct independent, evidence-based research to provide insight and guidance for society, industry, legislators and decision-makers across the private and public sectors,” said Joaquin Quinonero Candela, Director, Applied Machine Learning, at Facebook.

The institute will address issues that affect the use and impact of AI, such as safety, privacy, fairness and transparency.

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“At the TUM Institute for Ethics in Artificial Intelligence, we will explore the ethical issues of AI and develop ethical guidelines for the responsible use of the technology in society and the economy,” said Professor Dr Christoph Lutge.

The institute will also benefit from Germany’s position at the forefront of the conversation surrounding ethical frameworks for AI “including the creation of government-led ethical guidelines on autonomous driving” and its work with European institutions on these issues. (IANS)

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Facebook Apps Helped EU Firms Generate 208 bn Euros in Sales

The study also found that female-founded businesses, in particular, credit social media with helping them to start and grow their businesses

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The social media application, Facebook is displayed on Apple's App Store, July 30, 2019. VOA

Facebook apps have helped businesses in the European Union (EU) generate sales corresponding to an estimated 208 billion euros last year – resulting in nearly 3.1 million jobs, the social networking giant said in a new report.

According to Facebook, around 25 million businesses in the European Union, mostly small businesses, are using its services each month.

“Businesses said that using Facebook apps helped them generate an estimated 98 billion euros in exports last year. Of these exports, 58 billion euros are sales within the EU and 40 billion euros are sales to the rest of the world,” Nicola Mendelsohn, Vice-President for Europe, Middle East and Africa at Facebook, said on Monday.

To understand the true extent of Facebook’s impact on the European economy, the company commissioned a study by Copenhagen Economics, one of the leading economic firms in Europe. The study surveyed over 7,700 businesses across all industries and sizes in 15 countries.

“This shows the critical role social media plays in driving sales for businesses across Europe. This is particularly true for small and medium sized businesses,” Mendelsohn added.

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The Facebook mobile app on an Android smartphone. Wikimedia Commons

Six in 10 companies said Facebook apps are important in lowering marketing costs and a similar number said Facebook apps are important in improving customer service.

“Six in 10 businesses using Facebook apps report them as helpful to enter markets, and 7 in 10 businesses using Facebook apps are exporting to other countries compared to 5 in 10 non-users,” the report mentioned.

Also Read: Skills Required To Become An Information Security Analyst

The study also found that female-founded businesses, in particular, credit social media with helping them to start and grow their businesses.

“Fifty-eight per cent of female-founded businesses surveyed said that Facebook apps are important for enabling them to start businesses, while 65 per cent said it helped grow their revenue,” said the report. (IANS)