Top AI Communities in India 

AI conferences

With the rapid progression of AI technology, the demand for collaboration, knowledge exchange, and networking among developers, researchers, and enthusiasts has never been greater. Whether you’re aiming to enhance your skills, seek creative inspiration for your upcoming projects, or connect with fellow enthusiasts, the AI community caters to diverse interests and passions. There’s something valuable for everyone within this vibrant and ever-evolving community.

Here is a list of top AI Communities in India with which you can connect to enhance your AI skills and knowledge.

AIM Leaders Council

AIM Leaders Council is a unique community meticulously curated for executives excelling in the realm of analytics and data. Its structure promotes open dialogues, knowledge exchange, and mutual learning, allowing leaders to share their insights, discuss common challenges, and explore solutions in a supportive environment.

Membership in the AIM Leadership Council is exclusively offered through invitation and is tailored for distinguished individuals. Prospective candidates seeking to join this esteemed council must adhere to specific criteria. To qualify for their leadership one must meet a minimum of three out of six conditions, which include having a team of at least 50 employees, with a quarter of them specializing in advanced analytics.

Additionally, candidates should possess a minimum of three years of leadership experience and have a client base comprising at least five Fortune 500 companies, spanning across a minimum of three different countries. Furthermore, the unit should demonstrate a revenue of at least $1 million. Eligible candidates must hold significant positions within their organizations, such as CEO, CxO, Co-founder, Head of Data Science, or Chief Data Scientist.

AI Forum for India

AI Forum for India facilitates a network of professionals and thinkers who are involved in various aspects of the AI value chain. The goal is to create an environment where individuals can question, learn, and grow in their respective fields. The forum aims to promote a culture of innovation, learning, and growth within the AI industry.

AI forum is the go-to source for AI professionals who are seeking relevant content, conversations, and community growth. The members can address the needs of professionals across various stages of their careers. This would include access to a wide range of content, such as articles, podcasts, and webinars, as well as opportunities to engage in conversations with other professionals in the field.

MachineHack Telegram

MachineHack is a leading platform for generative AI professionals, supporting career development and fostering professional growth at all expertise levels in the field. With a vibrant community of over 500,000 members, MachineHack offers a variety of resources and opportunities to help generative AI professionals learn new skills, network with other professionals, and advance their careers.

One of the most valuable resources offered by MachineHack is its collection of challenges and competitions. These challenges provide generative AI professionals with the opportunity to test their skills and knowledge on a variety of real-world problems. By participating in challenges, MachineHack members can gain valuable experience, improve their skills, and benchmark their performance against other professionals in the field.

ADaSci Discord

The Association of Data Scientists (ADaSci) is a premier global professional body of data science and machine learning professionals. ADaSci was founded in 2019 with the mission to lead the development, dissemination, and implementation of knowledge, basic and applied research, and technologies in analytics, decision-making, and management.

ADaSci offers a variety of educational resources, including courses, webinars, and articles on topics related to data science and machine learning. These resources are designed to help members stay up-to-date on the latest trends and technologies in the field.

Moreover, it hosts a variety of events and meetups where members can network with other professionals in the field. These events are a great way to learn from others, share ideas, and collaborate on projects.

AIM Telegram

Analytics India Magazine’s Telegram channel provides readers with news, analysis, and insights on the latest trends and technologies in the field. Moreover, the channel also gives key insights to readers on job opportunities and career advice in the field of data analytics, data science, machine learning and more.

Further, Analytics India Magazine also hosts a variety of events and conferences, including Cypher, which is one of India’s biggest AI summits.

The post Top AI Communities in India appeared first on Analytics India Magazine.

Meta’s AI Has Gone Haywire, It’s Not the First Time

Less than a fortnight ago, Meta announced AI-generated chat stickers at its annual Connect event, alongside an AI-powered image editor for Instagram. Relying on the company’s homegrown Llama 2 large language model (built in collaboration with Microsoft), the AI feature can create “multiple unique, high-quality stickers in seconds” for the users by prompting it in English. The recently piloted AI stickers have gone viral — but not in a good way.

In the press release, Meta said that “billions of stickers” are sent on its platforms monthly, giving users billions of opportunities to generate anything they want.

The new feature, however, is being misused in various ways—generating Nintendo character holding a rifle, naked Canadian president bending over, a busty Karl Marx in a dress and much worse. The reason is that the brain behind the feature, Emu lacks filters allowing users to prompt it with controversial phrases and images.

As per the research paper, Emu which stands for ‘expressive media universe’ is “a quality-tuned latent diffusion model that significantly outperforms a publicly available state-of-the-art model SDXLv1.0 on visual appeal,” the company stated in the release blog.

It looks like in the rush to launch the hottest AI tools, Meta as well as other giants like Microsoft continue to forget that people will always use technology for chaos.

Not The First

Unsurprisingly, this is not a first-of-a-kind situation. Earlier this year, Meta released Galactica, a science research-specific language model which had to be taken down just three days after the release. According to MIT Technology Review, the tool designed to assist scientists with relevant scientific compositions was taken down because it is “a mindless bot that cannot tell fact from fiction.”

“The people who made the demo had to take it down because they just couldn’t take the heat,” Yann LeCun, Meta’s chief artificial intelligence scientist, had commented.

Similarly, last year, the company released Blender Bot, an AI chatbot that anyone in the US can talk with. Immediately, users all over the country started talking about the uncomfortable content the AI was spewing including racist stereotypes and conspiracy theories. To date, the tools remain available only to US users as per the official page.

In 2016, in a visionary attempt at making machines understand human language, Microsoft released Tay, a bot which (also) turned out to be an awry example of ways AI can go wrong. In less than 16 hours of its arrival on Twitter, Tay had turned into a brazen anti-Semite and was immediately taken offline for re-tooling.

Today, seven years later, the image-conscious company grapples with the same problem, it’s just that the tool in question is different.

Thank you, Microsoft Bing pic.twitter.com/6XWxpum655

— Rachel (@tolstoybb) October 3, 2023

Microsoft Bing’s Image Creator was launched in March, for users to generate images via AI. Even though the tool has a long, long list of filtered words and phrases, people have found a way to surpass them and produce pictures of their beloved fictional characters engaged in violence and terrorism.

“Most generative AI models today with strict filters and terms of use ‘are playing a game of semantic whack-a-mole’ 404 media recently stated in a piece focusing on how Bing is creating images of 9/11 attacks. ‘Microsoft can ban individual phrases from prompts forever, until there are no words left, and people will still get around filters,” Samantha Cole noted.

Some companies are making models without any filters whatsoever, and releasing them into the wild as permanently-accessible files.

Felt Cute, Might Delete Later

Tech companies’ lack of commitment to transparency, commercial objectives, and the free scraping of content from the web, is visible through their latest releases. It won’t be long before Google’s Bard which has recently been upgraded to join the infamous group.

It looks like Meta has learnt from previous AI tomfoolery since it has pursued a limited rollout of AI-generated stickers. That way the team can address the issues and correct abuse before it spreads further to the masses.

Despite the efforts, the models released today cannot fill in the blanks which humans can. The customisable stickers definitely seem cute, but the company appears to have overshot the goal of “enabling news forms of connection and expression” through AI.

Due to the limited rollout of AI stickers, Analytics India Magazine was not able to replicate it or attempt to generate new examples.

The post Meta’s AI Has Gone Haywire, It’s Not the First Time appeared first on Analytics India Magazine.

Top 7 Smart Wearables Powered by Generative AI

Smartphones might soon become obsolete. With the advent of generative AI, the future seems to move beyond mere touch. LLMs like GPT-4 or Llama 2 offer us access to all our senses, including voice and vision, taking a step beyond the capabilities of smartphones.

In the past week, there have been a slew of announcements from various tech companies on different wearable products clearly indicating that we can expect innovative products in the near future.

Microsoft Bag

Many of us have seen the cartoon series ‘Dora the Explorer’. One of the most fascinating things about Dora was her smart bag which could answer all her queries. Soon, that bag might come to reality.

Microsoft has recently applied for a patent for their innovative AI-powered smart backpack. This futuristic backpack comes equipped with a camera, microphone, speaker, network interface, processor, and storage, showcasing the cutting-edge technology Microsoft is exploring.

To be honest the bag resembles something right out of a science fiction movie. In its patent application, Microsoft details all the functionalities this backpack can offer in our daily lives.

For instance, you can request it to accompany you while skiing and inquire if it’s safe to ski in the direction you’re facing. The backpack will autonomously scan the surroundings and inform you if the direction is within the designated bounds or not.

Humane AI Pin

Presently, fashion is considered different from technology. However soon generative AI will empower users to co-create their fashion items. Custom-designed apparel, jewelry, and accessories tailored to individual tastes and preferences will become the norm.

Recently, at a Paris fashion show, Humane, a startup led by former Apple executives, showcased its wearable AI assistant, the AI Pin, blending technology and fashion seamlessly. Supermodel Naomi Campbell became the first individual outside the company to publicly wear the device, providing a glimpse into the future of wearable AI.

Ai Pin” employs projectors, cameras, and AI technology, functioning as a wearable AI assistant. Described as a “screenless, standalone device and software platform crafted exclusively for AI,” it operates on an advanced Qualcomm Snapdragon platform. The device features a mini-projector replacing a smartphone screen, alongside a camera and speaker.

Apple Series 9 Watch

Apple’s always been ahead in wearables, and the Series 9 Watch proves it. It won’t be wrong to say that the Series 9 Watch is Siri-ously capable. It processes Siri requests on your device and are now processed faster and more securely than ever before. Additionally, Siri dictation has seen a remarkable improvement, becoming up to 25% more accurate with the new Apple Watch Series 9.

Plus, with gestures, using the Apple Watch becomes a breeze, especially when you’re busy. Just double tap your index finger and thumb to answer calls, check notifications, control music, and much more.

Rewind Pendant

Rewind Pendant is a wearable that captures what you say and hear in the real world and then transcribes, encrypts, and stores it entirely locally on your phone. It is a cool wearable device that lets you record your conversations and then play them back later. It’s like a tiny DVR for your life!

The Rewind Pendant is great for people who want to improve their memory, learn new things, or just keep track of their day-to-day interactions. It’s also a great tool for professionals who need to remember what they discussed with clients or customers.

Meta’s RayBan Glasses

Meta in collaboration with Ray-Ban recently introduced a chic range of smart glasses, available in various stylish designs and colors. These innovative glasses allow hands-free interaction, enabling users to make calls, listen to music, capture photos and videos, and even livestream content.

What sets them apart is the integration of Meta AI, making them the first smart glasses with this advanced technology, offering a truly effortless experience.

WHOOP X OpenAI

WHOOP in partnership with OpenAI launched WHOOP Coach, one of the most advanced generative AI features to ever be released by a wearable. It acts like a search engine for your body, using GPT-4, OpenAI’s most advanced generative AI system, to generate highly personalized, highly specific recommendations and guidance.

It uses special WHOOP algorithms, a custom-made computer program that learns from data, the latest in sports science, and your own body information to find patterns and links in your WHOOP data.

Leveraging OpenAI’s latest technology, WHOOP Coach instantly generates personalized, conversational answers to your inquiries about health, fitness, and well-being. Moreover, Jony Ive, the renowned designer of the iPhone, and OpenAI CEO Sam Altman have been discussing a new AI hardware indicating OpenAI might soon venture into wearables.

Avi Schiffman’s Tab

Tab is a wearable AI companion device developed by Avi Schiffmann, the creator of the popular COVID-19 dashboard and the Airbnb-like platform for Ukrainian refugees.

It is a small, lightweight device that you can wear on your wrist or belt. Tab is equipped with a variety of sensors, including a microphone, speaker, camera, and GPS. It also has a built-in AI assistant that can understand and respond to your natural language commands.It also has a powerful AI processor that can process this data in real time and provide users with relevant information and assistance.

These innovations highlight a future where wearables transcend their current limitations, becoming intuitive extensions of our senses and capabilities. The era of Smart Wearables powered by GenAI has dawned, promising a tech-savvy tomorrow.

The post Top 7 Smart Wearables Powered by Generative AI appeared first on Analytics India Magazine.

56% of professionals are unsure if their companies have ethical guidelines for AI use

Scale on a block

Although AI has been around since the 1950s, it has seen tremendous growth within the past year. Tech giants have been implementing AI into their products and services, while individuals are using it to make their lives a little easier.

According to Deloitte, 74% of companies surveyed in its second edition Technology Trust Ethics Report have already begun testing generative AI, while 65% have begun to use it internally. The increasing awareness of AI's new capabilities has led to the pressing question of how organizations can use this technology ethically.

Also: The ethics of generative AI: How we can harness this powerful technology

Deloitte interviewed 26 specialists in various industries to gather information about how industry leaders are considering concerns about the ethical use of emerging technologies, including generative AI.

The company then tested hypotheses and delivered a 64-question survey to more than 1,700 businesses and technical professionals to gain further insights.

The report, by Beena Ammanath, managing director of Deloitte Consulting LLP and leader of Deloitte's Technology Trust Ethics practice, refers to emerging technologies as the following: Cognitive technologies (including general and generative AI and chatbots), digital reality, ambient experiences, autonomous vehicles, quantum computing, distributed ledger technology, and robotics.

According to the survey, 39% of survey respondents, consisting of business leaders and developers of emerging technologies, thought cognitive technologies had the most potential for social good, compared to 12% in digital reality, and 12% in ambient experiences.

Also: AI is transforming organizations everywhere. How these 6 companies are leading the way

However, 57% of survey respondents also thought that cognitive technologies had the greatest potential for serious ethical risk.

The most concerning statistic is that over half of the respondents (56%) said their "company does not have or are unsure if they have ethical principles guiding the use of generative AI."

Compared to Deloitte's report in 2022 about ethics and trust in emerging technologies, this year's report reveals that "organizations find themselves wrestling with new ethical issues posed by wide-scale adoption of this once-again new technology."

These issues are tied to concerns about how businesses and organizations are using these technologies.

Despite the many benefits of AI, 22% of respondents were concerned with data privacy while 14% cited transparency about how AI is trained with data to produce its outputs.

Also: 3 ways to secure the best AI partner for your business

Data poisoning as well as intellectual property and copyright were concerns that each consisted of 12% of survey respondents. Data poisoning is the "pollution" of data training sets by bad actors and can lead to inaccurate results produced by AI.

Deloitte's report also detailed the types of damage that survey respondents believe could arise when ethical violations are not taken seriously.

Reputational damage was the greatest source of concern coming from 38% of respondents, followed by human damage such as misdiagnoses or data privacy violations (27%), regulatory penalties like copyright infringement (17%), financial damage (9%), and employee dissatisfaction (9%).

These damages are evident in the several lawsuits that have already been filed due to privacy violations, copyright infringement, and other issues related to the unethical use of AI.

Also: How trusted generative AI can improve the connected customer experience

So how can companies ensure they using AI safely? Deloitte lists a multi-step approach to helping companies:

  • Exploration: Companies can begin by letting product owners, business leaders, and AI/ML practitioners explore generative AI through workshops to see how it could create value for their businesses. This way, companies can recognize the costs and benefits of incorporating AI into their businesses.
  • Foundational: Companies could buy or build AI platforms to implement generative AI into their businesses. Of the survey respondents, 30% of survey respondents' companies chose to use existing capabilities with major AI platforms. 8% of respondents created their own in-house AI platforms, while 5% decided not to use generative AI.
  • Governance: Creating standards and protocols for AI use could minimize the potentially harmful impacts of AI, so companies should determine what types of ethical principles they plan to uphold.
  • Trainings and Education: Companies could mandate trainings that outline the ethical principles of using AI. In addition, technical trainings that educate employees about using a variety of LLMs could provide companies with more guidance about the ethical use of AI.
  • Pilots: Engineers and product leaders could run experiments on a variety of use cases to test proof of concepts and pilot programs and then eliminate aspects that are too risky.
  • Implementation: Companies should draft a plan for introducing a newly enhanced product into the market and assign accountability for product implementation and ownership. The company should also have a team of experts prepared to address any issues that may arise. Transparency is also crucial for this step, as companies should explain how user data is inputted into the model, how the model reaches its output, and how likely the model is to hallucinate.
  • Audit: According to one interviewee, companies will need to modify their policies depending on the risks of AI use. This could vary company by company, as not all organizations will incorporate AI for the same use case.

"The sooner companies work together to identify the risks and establish governance up front, the better their ability may be to help generate stakeholder value, elevate their brands, create new markets, and contribute to building a more equitable world," said Ammanath.

Artificial Intelligence

India’s 25K GPUs for AI: Is it Enough?

In a move aimed at propelling India and helping local startups in AI innovation, Union Minister Rajeev Chandrasekhar unveiled a plan to establish a cluster of 25,000 GPUs.

This initiative, set to be realised through a public-private partnership (PPP), is in discussion at the highest levels of the Ministry of Electronics and IT. Chandrasekhar announced this ambitious endeavour in September, shedding light on a commitment to fostering real-world AI applications.

The minister stated that the ongoing discussion about AI is almost always about applications like ChatGPT. “Our mission is real-world AI use cases. We are looking at health, governance, education and creating AI-specific integrated circuits for those applications,” he said in a statement.

Abundant Data, Need GPUs

At its core, this initiative is not just about enhancing India’s AI prowess; it’s also about safeguarding the nation’s data sovereignty. The scarcity of GPUs within the country has driven many businesses to rely on overseas cloud-based solutions. Recognising the urgency of addressing this issue, one of the seven AI working groups established by MeitY strongly recommended the creation of a 25,000 GPU cluster.

Experts contend that India’s abundant data resources and human capital necessitate supercomputing power to compete effectively in the global AI arena. This massive cluster of GPUs is a pivotal step toward achieving this objective. For context, India’s current fastest supercomputer, ‘Airawat,’ boasts a mere 640 GPUs, ranking 75th globally. In contrast, the world’s top supercomputers feature over 30,000 GPUs.

Once the proposal is finalised, the government will initiate a standard tendering process to invite private companies to participate in establishing the GPU cluster. Notably, discussions with tech giants like NVIDIA, including a meeting between its founder and CEO Jensen Huang and Prime Minister Modi, have underscored the potential for collaboration.

Huang told AIM that India will get about 10s of thousands of GPUs in order to build infrastructure – i.e. about 1,00,000 GPUs. “We are going to bring out the fastest computers in the world. These computers are not even in production [so far]. India will be one of the first countries in the world [to get them],” Huang said, confirming that these would be faster than anything the world has ever seen.

Going by the figures that the NVIDIA founder was hinting at, the 25k GPU cluster could very well be part of a larger shipment containing 1,00,000 GPUs.

However, while this initial initiative is undeniably significant, it merely marks India’s initial foray into the arena of countries promoting AI research and development capabilities. Compared to companies like OpenAI, which possess over 20,000 GPUs, and a $10 billion investment from Microsoft, the government will require private-sector partnerships to fully harness the potential of this computing power.

The estimated cost of this ambitious project falls in the range of INR 8,000-10,000 crore and is currently under deliberation at the highest echelons of Meity. Indian AI startups, industry players, and prominent CEOs have persistently advocated for such investments in computing capacity to address the scarcity and prohibitive cost of GPUs.

Issues Facing Local AI Advancement

National initiatives to construct supercomputers and projects aimed at training LLMs in multiple Indian languages are already in progress. However, there are many issues facing it.

When companies seek access to GPUs from cloud service providers or GPU manufacturers, they often face extended wait times, sometimes spanning months. To address this bottleneck, companies are urging the government to invest in essential computing infrastructure for AI systems and applications. Without this support, India risks lagging in the global AI race, which encompasses applications from banking to space stations, all powered by algorithmic intelligence.

“Leading Indian startups are grappling with the challenge of obtaining access to 1,000-GPU clusters, often diverting valuable funds from their fundraising efforts, MD of PeakXV Partners(previously Sequoia India) Rajan Anandan, said; emphasising the need for affordable access to such clusters, suggesting a pyramid approach: free access for academic institutions, subsidized access for startups, and commercial access for larger companies.

IBM CEO Arvind Krishna, recently also reiterated the same saying, “In many nascent technologies, you often need the government to step in first before others will follow.”

“The government should set up a national Al computing centre,” Krishna stressed.

India is home to over 60 active genAI startups as of May 2023, having received approximately $475 million in funding between 2021 and 2023. While India’s AI ecosystem is thriving, it lags behind countries like the United States and Israel in foundational AI models and funding.

What About Other Countries?

In contrast, governments in other nations have committed substantial funds to secure GPU access for research purposes. The UK, Saudi Arabia, the UAE, and Chinese tech giants have all invested significantly in acquiring GPUs to bolster their AI capabilities. Even the United States has offered a 50% discount to researchers working on supercomputing projects.

Lack of local GPU access may drive Indian companies to opt for foreign cloud providers, leading to data localisation issues. Sudipta Ghosh, Partner and Leader of Data and Analytics at PwC India, emphasised the importance of regulatory frameworks for responsible and ethical AI. Such frameworks would not only bolster public trust but also ensure transparency and accountability.

The scarcity of GPUs has also made them more expensive in India, leading providers to be cautious about shipping them to the country where demand, payment capabilities, and ticket sizes are comparatively smaller.

Addressing this challenge may require domestic GPU manufacturing, potentially supported by government incentives. Prashant Garg, Partner at EY, suggests following the model of attracting global automakers to set up shop in India.

Efforts are already underway to provide controlled GPU access to AI startups through collaborations between Nasscom and the Centre for Development of Advanced Computing (CDAC). However, experts agree that India needs to invest in fundamental research and attract top AI scientists to drive innovation.

Simultaneously, collaborations between American GPU manufacturer NVIDIA and Indian giants Reliance Jio and Tata Sons hold promise for providing computing infrastructure to emerging businesses.

Looking ahead, a lot of interest from other semiconductor giants like AMD, Micron, SOLIS-IDC, Foxconn, STMicroelocronics could snowball into a lot of GPU manufacturers coming in as well. With smooth regulations and favourable business conditions, India could have GPUs being manufactured locally.

The post India’s 25K GPUs for AI: Is it Enough? appeared first on Analytics India Magazine.

The 11 best early October Prime Day robot vacuum deals

Our lives are busy. When we have limited time available to keep our homes clean and tidy, it isn't long until the clutter builds up and a molehill has turned into a mountain.

This is where modern home appliances shine. Intelligent thermostats can automatically manage our energy consumption and heating requirements; smart lighting can be scheduled, and when it comes to cleaning, robot vacuums can take some of the daily workload off your plate.

Also: The best October Prime Day deals

Robot vacuums aren't the holy grail of domestic tasks, of course, but if you purchase the right model, you won't need to worry about keeping your floors swept and mopped. You can schedule them to perform these jobs for you — or to spot clean as and when you need — freeing up a little more time for you to spend how you like. And ahead of Amazon's Prime Big Deal Days sale, which kicks off Tuesday, you can find several discounts on top-rated robot vacuums and mops.

Below are the best deals we could find as Prime Big Deal Days approaches.

Best early October Prime Day robot vacuum deals

  • iRobot Roomba i4 EVO robot vacuum: $200 (Save $200)
  • ECOVACS DEEBOT X1 Omni: $1,000 (Save $550)
  • iRobot Braava Jet M6: $299 (Save $151)
  • iRobot Roomba 694 Robot Vacuum: $180 (Save $95)
  • ECOVACS DEEBOT N10+: $500 (Save $150)
  • Airrobo P20 robot vacuum: $125 (Save $75)
  • Shark RV1001AE IQ Robot Vacuum: $422 (Save $178)
  • iRobot Roomba 692: $165 (Save $135)
  • ECOVACS DEEBOT T9+ Robot Vacuum and Mop Combo: $747 (Save $53)
  • Tikom Robot Vacuum and Mop: $150 (Save $200)
  • ECOVACS Deebot N8 Pro+ Robot Vacuum and Mop: $400 (Save $300)

More Amazon Prime Big Deal Days robot vacuum deals

Our top Prime Day deals

AI and data: Honing hyper-personalization to build the bank of the future

Abstract representation of personalized finance with AI

Imagine the bank of the future, where every experience you have in financial services is tailored to your individual requirements.

Welcome to the age of hyper-personalization, where the businesses we use every day — including financial services institutions — create tailored online experiences for customers through a combination of machine learning (ML), artificial intelligence (AI), and big data.

That's what Kavin Mistry, head of digital marketing and personalization at TSB Bank, will be trying to create at his organization during the next few years.

"We want to use AI and ML to identify key events in the customer's life that might necessitate financial support and use that response to help customers ultimately achieve their life ambitions," he says to ZDNET in a video interview.

Effective hyper-personalization means using data that's already been collected in combination with emerging technologies to help customers achieve their individual goals.

Mistry paints a picture of the hyper-personalized banking service of the future, and how emerging technology, such as AI and ML, will help TSB to enact its data-led approach.

Also: Five ways to use AI responsibly

"If you're a new customer, having just onboarded and got onto our mobile app, the first experience would be to establish your needs," he says, picturing what kind of service his bank would like to provide in a few years.

"We would look at gathering information and data in a gamified way to allow it to be an experience that is straightforward for the customer and that establishes specifically what your needs are and where you are today."

Those kinds of objectives resonate with Samantha Searle, director analyst at Gartner, who says to ZDNET in a video-conferencing conversation that a successful hyper-personalized banking service should do two things.

First, it should help customers achieve their financial goals, such as saving for a mortgage or better budgeting.

"We're seeing with advances in adaptive AI technologies that it's becoming easier for banks to not only put this information into their business operations processes, but to infuse it into their customer-facing processes, so those also can become more goal-orientated."

Also: Generative AI in commerce: 5 ways industries are changing how they do business

Second, a hyper-personalized banking service should focus on a customer's life journey and provide support through significant life transitions, such as getting married, looking for a mortgage deal, and offering related add-on products, including home and life insurance.

"So, instead of the customer having to put all this data in a form, for example, when they apply for something like a mortgage loan, the bank would already have a good idea of your credit history through data analytics and would push personalized products and services."

Back at TSB, Mistry gives the example of how his bank might provide a hyper-personalized service to an aspiring first-time homeowner.

This individual might need to save a deposit for a mortgage, and they might also have to ensure their credit score is enhanced, so they can get the funds they require.

"We would set up experiences, communications, and targeted goals to enable them to save their deposit," he says.

"We would then look at their spending habits and support them in being able to scrimp and save on a regular basis. We would track where they are versus their goal. And we would keep them updated regularly on any savings opportunities and benefits they can get from TSB."

Mistry says his bank would also use its data-led approach to ensure aspiring first-time homeowners cover all their bases, whether it's having visibility into their credit score, developing a route to improving it, or providing access to mortgage advisors once the time is right.

This kind of pathway to effective hyper-personalization involves a careful blend of technology.

Mistry says TSB uses AI and ML-based modeling to understand the propensity for customers to act upon certain communications.

Also: 4 ways generative AI can stimulate the creator economy

In the longer term, he wants the bank to predict customer events before they occur and to provide a much deeper understanding of the experiences that people have with TSB.

Mistry's team scans the market for AI products that will help the bank to achieve its aims.

The company is using Adobe Automated Personalization Activity as part of its strategy and is considering how it might make use of the tech giant's Firefly tool, which is a generative AI model.

Mistry's team is also developing a Money Confidence Hub, which will be an area within the firm's app that allows customers to track and trace their hyper-personalized goals.

The technology is being delivered on Adobe Experience Manager and the aim is to start taking customers on the next stage of their banking journeys at some stage in 2024.

Also: How to use Photoshop's Generative Fill AI tool to easily transform your boring photos

Gartner's Searle says moves into hyper-personalization are an important step for any high-street bank to take if it wants to stay ahead of its competitors.

She says banks in the US are more proactive in this area than their UK counterparts. More generally, banks are being forced to act due to the risk of disruption from startup challenger banks, which are "pushing" traditional providers to focus on personalization.

Searle says some banks are partnering with fintechs to hone their hyper-personalized services.

"Banks have been using data to predict customer events for quite some time," she says. "Now, it's more of a question of making this effort more customer-centric to achieve hyper-personalization."

Also: AI bots could soon become your new customer service agent

Crucially, Searle also says that, while there tends to be a focus on machine learning, other systems and services also are likely to play a big role in AI-led hyper-personalization efforts.

"Natural language-generation technologies can help banks to interrogate and understand data, and are also important for things like chatbots and helping the customer to actually engage with the bank when they have a question, problem or complaint," she says.

So, what about generative AI — could that hyped technology play a big role in hyper-personalization? Yes, says Searle, but we're still some way away from banks adding ChatGPT-like services to their banking propositions.

"One example might be personalized marketing," she says. "A generative AI tool that provides smart answers about products could save the customer the burden of having to go off and look and do the research themselves."

And while hyper-personalization is important to the future of banking, Searle says it's not the only technology that could help to shape the long-term provision of financial services.

Also: Generative AI is coming for your job. Here are 4 reasons to be excited

For customers, the future of financial services is going to involve a lot of technology.

Searle refers to robo-advisors who will guide consumers on their investment portfolios, AI-enabled financial coaches who will help people manage their money more carefully, and something called "machines as customers", where AI-enabled assistants undertake research into financial services and even make decisions on an individual's behalf.

"That's longer term and will appear during the next decade," she says. "But those trends are another consequence of the evolution of all these different AI technologies and they're something that an industry like financial services could really take advantage of."

Artificial Intelligence

EqualAI Releases 11 Principles for Responsible AI Governance

The nonprofit organization EqualAI has made public its report on best practices for putting 11 responsible, ethical principles around artificial intelligence in place. EqualAI defines responsible AI as “safe, inclusive and effective for all possible end users.” The principles include privacy, transparency and robustness.

Executives from Google DeepMind, Microsoft, Salesforce, Amazon Web Services, Verizon, the SAS Institute, PepsiCo, customer engagement company LivePerson and aerospace and defense company Northrop Grumman co-authored the report.

The report does not specify generative AI. Instead, its scope includes all “complex AI systems currently being built, acquired and integrated.”

Jump to:

  • What is the EqualAI Responsible AI Governance Framework?
  • What steps can organizations take to follow the framework?
  • Why does responsible AI governance matter?

What is the EqualAI Responsible AI Governance Framework?

The EqualAI Responsible AI Governance Framework includes 11 principles:

  • Preservation of privacy.
  • Transparency.
  • Human-Oriented Focus.
  • Respect for Individual Rights and Societal Good.
  • Open innovation.
  • Rewarding robustness.
  • Continuous innovation and review.
  • Enlist employees’ involvement.
  • Prioritize fairness through accountability.
  • Human-in-the-loop (ongoing human oversight during AI decision-making).
  • Professional development.

It also includes six central pillars:

  1. Responsible AI Values and Principles.
  2. Accountability and Clear Lines of Responsibility.
  3. Documentation.
  4. Defined Processes.
  5. Multistakeholder Reviews (including underrepresented and marginalized communities).
  6. Metrics, Monitoring and Reevaluation.

The framework is based on EqualAI’s Responsible AI Badge Program, which is a certification track to help corporate leaders reduce bias in AI.

“At EqualAI, we have found that aligning on AI principles allows organizations to operationalize their values by setting rules and standards to guide decision making related to AI development and use,” said Miriam Vogel, president and CEO of EqualAI, in a press release.

What steps can organizations take to create an effective responsible AI strategy?

According to the report, key steps to adopting an effective, responsible AI strategy include:

  • Securing C-suite or board support.
  • Taking into account feedback from diverse and underrepresented groups.
  • Empowering employees to raise potential concerns.

An organization’s responsible AI framework might be customized to its existing company values and how it already uses AI. The goal isn’t to reach “zero risk,” which isn’t truly possible; instead, companies should work on creating a culture of responsible AI governance. Performance recognition, pay and promotion incentives could be tied to AI risk mitigation efforts.

Why does responsible AI governance matter?

Investing in responsible AI practices is good for business as well as for humanity, EqualAI said. EqualAI cited a January 2023 study from Cisco, which found 60% of consumers are concerned about how organizations apply and use AI (generative AI was not specified). Cisco found 65% of consumers have lost trust in organizations due to AI practices.

SEE: How to get started using Google Bard (TechRepublic)

“After surveying their particular AI landscape and horizon, it is time to develop AI principles that align with the organization’s values and establish an infrastructure and process… to support these values and ensure they are not impeded by AI use,” the report stated.

A PDF of the complete report can be found here.

TechRepublic has reached out to EqualAI for additional comments about these guidelines; we did not hear back prior to article publication.

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Gen AI a job threat? On the contrary, human workers have much to gain

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The rise of generative AI in the workplace has concerned many professionals about the security of their jobs. Despite those concerns, a new study shows that executives are optimistic about the change and are confident that human roles will remain front and center of the workforce.

The study, conducted by Economist Impact and commissioned by Google Workspace, surveyed 900 executives across four regions and seven industries between the months of April and May 2023 to get their thoughts on the new era of flexible work, including emerging technologies such as generative AI.

Also: Google Assistant is having a Windows Copilot moment, and it's all thanks to AI

Of the 900 executives surveyed, 86% agreed that AI can eliminate mundane tasks and, as a result, contribute to increased innovation and creativity.

Furthermore, 84% of the executives surveyed believe that AI can grant more flexibility to workers with manual jobs, such as frontline workers.

For example, jobs that currently require in-person employees, such as operating a factory line, may evolve into remote roles, since workers would be able to remotely operate and oversee AI-supported robots and sensor equipment required to complete a task.

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In this use case, generative AI wouldn't replace the workers' roles, but rather, shift the roles' tasks to something less physically demanding, and more flexible.

As a result, 86% of the executives surveyed believe that humans will stay at the center of the workplace, with AI playing a supporting role, and 84% believe that job quality will improve as a by-product.

"I would say that humans remain in the center, and AI tools become a quality check and productivity boost," said Ben Armstrong, executive director of the Massachusetts Institute of Technology's Industrial Performance Center.

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However, a future like the one described in the use case above would require more than simply investments in technology.

A successful shift in roles of that nature would require proper workforce re-skilling and training to prepare these workers to leverage the power of AI and other emerging technologies.

"The need for skill development will continue to increase with the growing presence of AI," Anita Woolley, a professor at Carnegie Mellon University's Tepper School of Business said. "Organizations will need employees with special skills to make full use of the AI capabilities that can facilitate flexible work."

Even in a scenario that involves reskilling, workers would retain their jobs and play an essential role in the successful implementation of AI.

Artificial Intelligence

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