AI DISCRIMINATION RISK
Who guards India’s digital gatekeepers?
India has built effective digital systems that facilitate money transfer and identity verification across its diverse population. However, there are ongoing challenges regarding accountability and transparency in government digital platforms. Many argue that mechanisms like competition law may not be suitable for all government services.
India’s AI rules take shape; TCS profit jumps 15%
The government is set to release a consultation paper on AI regulations within a month. This and more in today’s ETtech Top 5.
ETMarkets Smart Talk| Rising US yields could hit expensive mid, smallcaps harder: Harish Krishnan
In an interaction with Kshitij Anand of ETMarkets, Harish Krishnan, CIO – Equity, Aditya Birla Sun Life AMC, discusses the risks and opportunities in the broader market, why investors should not confuse momentum with quality, and why earnings, cash flows and return on capital will become increasingly important.
Predicting FII flows akin to predicting mood swings: DSP MF CIO Anish Tawakley
At any point in time the market is influenced by multiple factors and it is impossible to attribute performance across those factors. I focus on earnings rather than flows. I would caution anyone against basing investing decisions based on flows for three reasons.
BRICS adopts New Delhi Declaration: Inside the 140-point document on Global South's ambitions
BRICS leaders adopted the New Delhi Declaration at the 18th summit, reaffirming their commitment to cooperation, multilateralism and a more representative global order. The document outlines India's 2026 chairship priorities, recognises partner countries' contributions and calls for greater participation of Emerging Markets, Developing Countries and Least Developed Countries in global governance.
Global Fintech Fest: Kissht’s Next Phase of Growth Means Becoming a Broader Financial-Services Company, Not Just a Lender
A customer base of more than 12 million, rapidly diversifying product suite, and AI integration at enterprise scale perfectly positions digital lender Kissht to become a financial services company with a broad range of products and services. The company’s Founder & CEO, Ranvir Singh, says financial prudence and deeper understanding of the customers was a necessity moving forward. He spoke to ET at the Global Fintech Fest. Read on!
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China's top court posts guidelines on deepfakes, AI disputes
In a significant move, China's leading court has released new guidelines aimed at mitigating risks linked to artificial intelligence. This legislation confronts issues such as unauthorized use of deepfakes and voice cloning without consent while also tackling algorithmic pricing strategies and false information generated by AI. It establishes accountability for service providers regarding infringing content, reinforcing the importance of security alongside AI advancements.
AI regulations should be nimble to boost innovation: Principal Scientific Advisor Ajay Sood
India's top scientific advisor advocates for agile AI regulations that foster innovation. New amendments to the IT Act 2021 address risks from artificial intelligence and deepfakes. The government prioritises innovation for inclusive growth and developing India by 2047. Existing laws will be strengthened to ensure public safety and fundamental human rights.
US Justice Department intervenes in xAI challenge to Colorado tech law
In its intervention, the Justice Department said the law violates the Fourteenth Amendment's equal protection guarantee by requiring companies to guard against unintended discriminatory effects while allowing some discrimination aimed at promoting diversity.
Elon Musk's xAI sues Colorado over state's new AI law
The company says the law would force it to alter its flagship AI model, Grok, to reflect the state's views on diversity and discrimination rather than being objective. xAI, which recently merged with SpaceX, is seeking a court declaration that the law is unconstitutional and an injunction blocking its enforcement.
Smaller AI startups echo Indian watchdog’s anti-trust concerns
Indian startups warn that Big Tech’s dominance in AI data and cloud services risks monopolies, price discrimination, and restricted competition. Global watchdogs echo concerns, emphasising ethical AI, fair infrastructure access, and support for alternative ecosystems to sustain innovation.
AI is choosing AI over humans: New study sounds alarm on what this bias means for human intelligence and creativity
New research reveals a bias in AI systems. These systems favor content created by other AI. This preference could impact hiring and education. Experts warn of potential discrimination against humans. This bias may create a digital divide. Humans might need to use AI to get selected. The future could see AI prioritizing itself. Safeguards are needed to protect human creativity.
The rise of AI in recruitment process: How companies are using artificial intelligence for hiring
Companies use AI tools like GenAI bots for candidate sourcing, resume screening, and skills assessment. HR executives say AI makes hiring quicker and more efficient. Genpact launched IMatch, an AI-based job-matching engine, resulting in improved productivity and faster hiring.
View: AI needs to be kept under an IA eye
Gartner's report predicts that global end-user spending on security and risk management (SRM) is expected to rise by 14.3% in 2024, with security services being the largest area of total SRM end-user spending at 42%. The increasing adoption of AI by firms necessitates the security of AI systems from threats and vulnerabilities. Internal audit (IA) plays a crucial role in ensuring AI security controls are established and effective in mitigating risks.
First major attempts to regulate AI face headwinds from all sides
Lawmakers are tackling AI bias challenges with impact assessments, supported by industry groups like TechNet. Concerns exist over companies self-reporting discrimination risks, highlighting the need for transparency and accountability.
View: How to future-proof AI regulation
The Ministry of Electronics and Information Technology (MeitY) issued a revised AI advisory on March 15, overturning a provision from the March 1 version that required intermediaries to obtain government approval before launching generative AI or other AI deployments. The original advisory raised concerns about its legality and stifling AI innovation due to its unclear scope and broad control assigned to the government.
White House's new order to mitigate AI risks will involve wide-ranging action
The executive order Joe Biden will unveil is the latest step by the administration to set parameters around AI as it makes rapid gains in capability and popularity in an environment of, so far, limited regulation.
Joe Biden to sign executive order regulating Federal AI use
The 111-page draft copy, dated October 23, leverages the government’s position as a top customer for tech companies such as Microsoft Corp and Amazon.com to drive changes in their AI products, by requiring developers of powerful AI systems to report their training and testing processes to the federal government.
Biased bots? US lawmakers take on 'Wild West' of AI recruitment
Derek Mobley, a Black man with a finance degree, has filed a class action lawsuit against human resources platform Workday Inc, alleging that the platform's algorithm discriminates against Black, disabled, and older job applicants. The lawsuit is part of a larger battle to regulate the use of artificial intelligence (AI) in the US recruitment market.
Biased bots? US lawmakers take on 'Wild West' of AI recruitment
The question of what "responsible AI" might look like goes to the heart of an increasingly robust push-back against the unrestricted use of automation in the US recruitment market.
Racist, sexist, casteist: Is AI bad news for India?
With a population of 1.4 billion powering the world's fifth-biggest economy, India is undergoing breakneck technological change, rolling out AI-based systems - in spheres from health to education, agriculture to criminal justice - but with scant debate on their ethical implications, experts say.
AI in Washington’s crosshairs but consensus far from certain
Interviews with a US senator, congressional staffers, AI companies and interest groups show there are a number of options under discussion.
Washington is determined to govern artificial intelligence, but how?
Some proposals focus on AI that may put people's lives or livelihoods at risk, like in medicine and finance. Other possibilities include rules to ensure AI isn't used to discriminate or violate someone's civil rights.
US policing AI at companies to make sure it doesn't violate civil rights
The growing popularity of AI tools, including Microsoft Corp-backed Open AI’s ChatGPT, has spurred US and European regulators to heighten scrutiny of their use and prompted calls for new laws to rein in the technology.
ETtech Explainer: warnings aplenty against AI chatbot biases, ignore them at your own peril
The biases can have serious consequences. for individuals and communities, particularly those who have historically faced one or other type of discrimination. Biased algorithms, for instance, can lead to unfair lending practices, or unjust arrests and convictions.
White House guidelines for AI aim to mitigate harm
The Biden administration's proposal joins hundreds of other guidelines and policy frameworks released by tech companies, industry associations and other government agencies over the past few years
Trai floats paper on leverage AI, big data for sector
As the market for AI and big data grows rapidly, its usage across sectors is also expanding. The telecom sector, for instance, can leverage AI and big data in areas such as quality of service, spectrum management and network security, the regulator said in the paper titled “Leveraging AI and big data in telecommunications sector”.
How can we make AI trustworthy
The pace of AI innovation is happening so quickly that even the most technologically sophisticated governments are struggling to keep up.
Smile! The robots are watching: AI takes charge of hiring by assessing facial expressions, screening CVs
The AI recruitment industry is valued at more than $500 million.
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