12 key benefits of AI for business

A US federal government inspector general report has warned that taxpayer data “could be vulnerable to inappropriate and undetected use, modification, or disclosure” unless the Internal Revenue Service boosts its cybersecurity. The use of the technology is proposed as part of the government’s Digital Platform Government initiative, which will also work to incorporate the approximately 1,500 public services provided across multiple websites into one portal. This future will be realized, according to the report, only if AI continues to be developed and applied. This review recommends increased access to data in a wider range of sectors, to develop a larger workforce with deep AI expertise as well as continued UK commitment to AI research. In addition, the growth of AI directly relates to an increased understanding of what AI can do and where it could be applied.

• Easily understand the ‘why’ behind model predictions to build better models and provide explanations of model output at a global level (across a set of predictions) or at a local level (for an individual prediction).
• With its potential to reshape the fundamental workings of governments worldwide, AI presents a beacon of opportunity for administrations grappling with complex challenges.
• Many U.S. agencies such as the Securities Exchange Commission, Internal Revenue Service, and the Department of the Treasury use algorithms to help direct enforcement resources for potential fraud cases.
• These publications have informed guidance on rooting out racial and ethnic bias in home valuations and highlighted future areas for studying how AI may shape racial disparities in the mortgage market.
• The governments of Canada and France announced in July 2018 that they would work together to establish a new International Panel to guide the responsible adoption of AI systems that are human-centred and grounded in human rights, inclusion, diversity, innovation and economic growth (OECD, 2019).

Extra care should be exercised when AI is used to inform consequential decisions or to provide risk assessments that impact people’s lives. AI will sift through large amounts of data to help inform government policy decisions. It could predict and help prevent instances of election interference and improve public services. It might change the balance of power between governments and citizens by giving citizens more voice and agency. It could be used within citizen assemblies to help with facilitation, information gathering, consensus building and idea generation.

Reduction in Human Error

Easily understand the ‘why’ behind model predictions to build better models and provide explanations of model output at a global level (across a set of predictions) or at a local level (for an individual prediction). Extract insights from unstructured text data to discover trends, create more accurate and relevant information retrieval and create personalized recommendations, with a wide range of supported algorithms from simplistic TF-IDF based ones to state-of-the-art BERT based transformers. Get real-time information from sensor data to understand which parts are likely to fail, when, and why. Minimize maintenance costs of equipment using intelligent and automated processes. The H2O AI Cloud enables intelligent automation, acceleration and transparency through every step of the data science lifecycle.

The actions by the Director shall use appropriate fellowship programs and awards for these purposes. (ii)  as part of the AI Tech Sprint competitions and in collaboration with appropriate partners, provide participants access to technical assistance, mentorship opportunities, individualized expert feedback on products under development, potential contract opportunities, and other programming and resources. (i)    Propose regulations that require United States IaaS Providers to submit a report to the Secretary of Commerce when a foreign person transacts with that United States IaaS Provider to train a large AI model with potential capabilities that could be used in malicious cyber-enabled activity (a “training run”). Such reports shall include, at a minimum, the identity of the foreign person and the existence of any training run of an AI model meeting the criteria set forth in this section, or other criteria defined by the Secretary in regulations, as well as any additional information identified by the Secretary. One notable example is the use of AI in predictive analytics for policy formulation.

Bank of England warns AI could pose financial stability risks

Many of the victims had lower incomes, and a disproportionate number had ethnic minority or immigrant backgrounds. The OECD’s Oslo Manual, developed by the Working Party of National Experts on Science and Technology Indicators (NESTI), and last updated in 2018 (OECD, 2019), serve as a universal guideline for collecting data related to innovation. The Finnish Center for Artificial Intelligence (FCAI), initiated by Aalto University, University of Helsinki, and VTT Technical Research Centre of Finland has become the main hub for basic and applied research, animating the nation’s ecosystem and facilitating knowledge transfer. In this perspective, Finland’s Presidency of the Council of the European Union has made its priority to discuss digitalisation and data economy, through the lens of sustainability, well-being and rule of law (Finland Governemnt, 2019c). The system is based on data collected during an initial interview (i.a. age, gender, disability and duration of unemployment), and a subsequent computer based test that scores the unemployed across 24 different dimensions.

According to a report from Korea Bizwire, the AI-powered benefits notification system could be up and running by 2026, with other uses of AI being explored including allowing AI software such as ChatGPT to access government forms to help improve accessibility. AI is a transformative technology with applications in medicine, agriculture, manufacturing, transportation, defense, and many other areas. Federal guidance has focused on ensuring AI is responsible, equitable, traceable, reliable, and governable.

If the public suspects that AI use leads to unfair or inequitable outcomes, they will be less likely to be supportive of government innovation. Therefore, before fully embracing AI, government organizations must prepare their teams for its responsible use. Municipal, county, state, and federal governments are using AI to make critical decisions about their residents. However, the “blackbox” nature of some AI systems may limit one’s ability to provide accountability and ensure fairness. It can be used to automate tasks, improve decision-making, and engage with citizens in new and innovative ways.

By analyzing vast amounts of data, AI algorithms can identify patterns, trends, and potential outcomes, assisting policymakers in making informed decisions. Artificial Intelligence refers to the development of intelligent machines that can perform tasks requiring human intelligence. It encompasses technologies like machine learning, natural language processing, and computer vision. As industry debates its own standards on these technologies, the government’s influence can help set a baseline for the harmonization of standards-setting. Leveraging the significant purchasing power of government in the market, the private-sector adoption of the guidelines can permeate the industry beyond the adoption by public sector organizations.

Mitigating risks of model bias

Organizations increasingly use AI to gain insights into their data or, in the business lingo of today, to make «data-driven decisions.» As they do that, they’re finding they do indeed make better, more accurate decisions instead of ones based on individual instincts or intuition tainted by personal biases and preferences. In reality, the algorithm developed a pattern of falsely labeling claims as fraudulent, and harried civil servants rubber-stamped the fraud labels. So, for years, the tax authority baselessly ordered thousands of families to pay back their claims, pushing many into onerous debt and destroying lives in the process. Data retrieved from the study helped create a new cross-cutting public offering – a bot that would supply information about the topics that students found important. However, the uptake of the new service has not been particularly high, leading the authorities to believe that only proactive marketing could change customers’ behaviour. At the same time, it has been concluded that in order to pursue such projects further, municipalities need to develop user experience awareness and data analytics skills.

Something like the tax authority’s algorithm would abide, but due to its public-facing role in government functions, the AI Act would have marked it a high-risk system. That means that a broad set of regulations would apply, including a risk-management system, human oversight, and a mandate to remove bias from the data involved. Another example of new inventions is self-driving cars, which use a combination of cameras, sensors, and AI algorithms to navigate roads and traffic without human intervention.

Navigating the Digital Health Landscape: The Crucial Role of Health Literacy

The Australian government’s syndromic surveillance system, PHREDSS, monitors patient symptoms in hospitals every day to determine emerging disease outbreaks and configure health policies accordingly. Centers for Disease Control and Prevention uses an AI tool to streamline polio virus tracking and reporting. There’s a dire need to spread awareness and develop AI expertise among government workers.

At least at present, the focus appears to be on cultivating a wide variety of projects rather than focusing on a more narrow set. In this initial paper, we analyzed all federal contracts over the last five years that had the term “artificial intelligence” (or “AI”) in the contract description. As such, our dataset included 663 contracts of which 652 identified a funding agency, 556 identified a NAICS code and 504 identified a dollar value, with contract values ranging up to $192 million. AI not only works at a scale beyond human capacity, Masood noted, but it removes time-consuming manual tasks from workers — a productivity gain that lets workers perform higher-level tasks that only humans can do.

Advantages and Disadvantages of Artificial Intelligence – The Bottom Line

We’ve seen calls in the popular press for watchdogs to keep an eye on the uses of AI technology for our own sanity and safety. The Home Office said it used AI for e-gates to read passports at airports, to help with the submission of passport applications and in the department’s “sham marriage triage tool”, which flags potential fake marriages for further investigation. The NHS has used AI in a number of contexts, including during the Covid pandemic, when officials used it to help identify at-risk patients who should be advised to shield.

The council’s role in monitoring what the state is doing with AI does not involve writing final policy. Amid fears that AI could heighten bias or affect privacy, the state is forming an advisory committee to recommend how the technology is deployed. And this is the area of study I would like to see developed further — Use of Self-Sovereign Digital Identities by Citizens to Drive adoption of Responsible AI. I personally believe this will go a long way in reinforcing at least 3 of the critical areas of AI development highlighted above — fairness, privacy, and inclusiveness — a 50% Fix.

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