Archive for the ‘Artificial Intelligence’ Category

Artificial intelligence innovation among power industry companies has dropped off in the last year – Power Technology

Research and innovation in artificial intelligence (AI) in the power industry operations and technologies sector has declined in the last year. The most recent figures show that the number of AI-related patent applications in the industry stood at 84 in the three months ending January down from 191 over the same period in 2020.

Figures for patent grants related to AI followed a similar pattern to filings shrinking from 64 in the three months ending January 2020 to 10 in the same period in 2021.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

AI is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.The figures also provide an insight into the largest innovators in the sector.

Siemens was the top AI innovator in the power industry operations and technologies sector in the latest quarter. The company, which has its headquarters in Germany, filed 51 AI-related patents in the three months ending January. That was down from 125 over the same period in 2020.

It was followed by the US-based Honeywell International with 21 AI patent applications, South Korea-based Korea Electric Power (19 applications), and the US-based 3M (10 applications).

Korea Electric Power has recently ramped up R&D in AI. It saw growth of 68.4% in related patent applications in the three months ending January compared to the same period in 2020 the highest percentage growth out of all companies tracked, with more than 10 quarterly patents in the power industry operations and technologies sector.

Industrial Vent and Inline Silencers

More:
Artificial intelligence innovation among power industry companies has dropped off in the last year - Power Technology

1 Artificial Intelligence Growth Stock to Buy Now and Hold for the Long Term – The Motley Fool

Artificial intelligence (AI) promises to be one of the most transformative technologies of our time. It has already proven it can reliably complete complex tasks almost instantaneously, eliminating the need for days or even weeks of human input in many cases.

The challenge for companies developing this advanced technology is building a business model that can deliver it efficiently since AI is a brand-new industry with little existing precedent. That's what makes C3.ai ( AI 7.11% ) a trailblazer, as it's the first platform AI provider helping companies in almost any industry access the technology's benefits.

C3.ai just reported its fiscal 2022 third-quarter earnings result, and it revealed continued growth across key metrics, further cementing the case for owning its stock for the long run.

Image source: Getty Images.

As more of the economy transitions into the digital realm, a growing number of companies will find themselves with access to game-changing tech like artificial intelligence. In the second quarter of fiscal 2022, C3.ai said it was serving 14 different industries, double the amount from the corresponding quarter in the previous year. It indicates that more sectors are already proactively seeking the benefits of AI.

One of those sectors is oil and gas, which represents the largest portion of C3.ai's total revenue. The company has a long-standing partnership with oil giant Baker Hughes. Together, the two companies have developed a suite of AI applications to predict critical equipment failures and reduce carbon emissions in drilling and production operations.

Shellis a core customer of these applications, and it's using them to monitor 10,000 devices and 23 large-scale oil assets, with the technology processing 1.3 trillion predictions per month.

In the recent Q3 of fiscal 2022, C3.ai revealed a new partnership with the U.S. Department of Defense worth $500 million over the next five years. It's designed to accelerate the adoption of AI applications across the defense segment of the federal government.

But some of C3.ai's most impressive partnerships are those with tech behemoths like Microsoft and Alphabet's Google. They're collaborating with C3.ai to deploy AI applications in the cloud to better serve their customers in manufacturing, healthcare, and financial services, among other industries.

From the moment a potential customer engages C3.ai, it can take up to six months to deploy their AI application. Therefore, it's important to watch the company's customer count as it can be a leading indicator for revenue growth in the future.

In fiscal Q3 2022, C3.ai reported having 218 customers, which was an 81% jump over Q3 2021. Over the same period, remaining performance obligations (which are expected to convert to revenue in the future) climbed by 90% to $469 million.

Since quarterly revenue grew a more modest 42% in the same time span, both of the above metrics hint at a potential revenue-growth acceleration over the next few years. The company has also raised its sales guidance twice so far in the first nine months of fiscal 2022, albeit by just 2% in total, now estimating $252 million in full-year revenue.

C3.ai has been a publicly traded company for a little over a year, listing in December 2020. It quickly rallied to its all-time high stock price of $161 before enduring a painful 87% decline to the $20 it trades at today. The company hasn't grown as quickly as investors anticipated, and it also hasn't achieved profitability yet.

But right now, C3.ai trades at a market valuation of $2.1 billion, and it has over $1 billion in cash and short-term investments on its balance sheet. Put simply, investors are only attributing a value of around $1 billion to its AI business despite over $250 million in revenue expected by the close of fiscal 2022 and a portfolio of A-list customers.

Moreover, C3.ai has a gross profit margin of 80%, affording it plenty of optionality when it comes to managing expenses. This places it in a great position to eventually deliver positive earnings per share to investors once it achieves a sufficient level of scale.

While C3.ai stock carries some risk, especially in the middle of the current tech sell-off, by many accounts it's beginning to look like an attractive long-term bet. Advanced technologies like AI will only grow in demand over time, and this company is a great way to play that trend.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Read more:
1 Artificial Intelligence Growth Stock to Buy Now and Hold for the Long Term - The Motley Fool

Ageism in Artificial Intelligence: Here are the Ways to Prevent it – Analytics Insight

WHO policy brief shares ways of preventing ageism and explains how to make AI technology more equitable.

Ageism is stereotyping and discriminating against individuals or groups based on their age, like job loss because of age. It can impact confidence, job prospects, financial situation, and quality of life. It can also include the way that how older people are represented in the media, public, etc, which can have a wider impact on the public attitude.

Ageism in AI is one new dimension to the ethics of AI. The WHO policy brief ageism in artificial intelligence for health examines the use of artificial intelligence in medicine and public health for older people. Its legal, non-legal, and technical measures can be used to minimize ageism in AI and maximize AIs benefits for older people. Ageism must be tackled to make sure that nobody loses out because of their age.

As AI technology plays a beneficial role, ageism must be identified and eliminated from AIs design, development, use, and evaluation. AI is a product of its algorithms, whose suggestions can draw ageist conclusions if the data that feeds the algorithms is skewed towards younger individuals. Like telehealth, tools used to predict illness or major health events in a patient, it could also provide inaccurate data for drug development.

When developing any AI technology, make sure you have older people participating in focus groups and in giving product feedback, like Adopt, an older adult-centered design process, which considers the disabled and aging population.

These elite data scientists form small teams that work directly, but diversity in hiring doesnt happen by simply wishing. Hire and train data scientists of all ages on your team. By including older employees, theyll be more likely to recognize and identify any forms of ageism in data collection or the products design.

Age-inclusive data collection is crucial for humanitarian response. When choosing demographic data to feed into AI algorithms as with other personal identifiers such as race or gender, make sure people of varying diversity are accounted for.

Investing in digital literacy and digital infrastructure can reap benefits in the form of increased transactions. After a product that incorporates artificial intelligence is developed, its important to invest in education and accessibility initiatives. This can help make older consumers and their health care providers more likely to benefit from technology.

Technology should benefit humans, not the other way around. Make sure that its easy and clear for older people to exercise their choice in participating in data collection or to provide any personal information.

The policy brief recommends various government agencies to help create frameworks and procedures to prevent ageism. It also lists private businesses to work within compliance with existing regulations.

With the rapid development and creation of new technologies, its important to keep researching and understanding how artificial intelligence can create new and unintended biases, in the form of choosing the right learning model for the problem, representative training data set, and monitoring performance using real data.

In the development and application of AI, its important to formalize processes like the ones above to maintain accountability in creating equitable and inclusive products.

Share This ArticleDo the sharing thingy

About AuthorMore info about author

Original post:
Ageism in Artificial Intelligence: Here are the Ways to Prevent it - Analytics Insight

EU Artificial Intelligence Act – Proposed Amendments by the EU Committee on Culture and Education – Lexology

The EU Committee on Culture and Education (the Committee) has proposed amendments to the scope of the EU Artificial Intelligence Act (the "AI Act). Overall, the Committee welcomes the proposed AI Act but proposes amendments to extend the list of high-risk AI systems and to modify provisions for related to proposed prohibited AI systems. These proposed amendments are yet to be considered by the European Commission but provide an insight into how the AI Act may change. Here, we highlight a selection of the significant changes to come out of the Committees proposals.

These amendments are separate to those proposed by the EU Committee on the Regions which we wrote about separately. For a recap on the AI Act, see our articles Artificial intelligence - EU Commission publishes proposed regulations, EU Artificial Intelligence Act - what has happened so far and what to expect next and The EU Artificial Intelligence Act - recent updates.

Proposed additions to the AI Act are included in bold and italicised while wording proposed to be deleted appears underlined e.g. [Proposed deletion:...].

Publicly accessible spaces includes virtual spaces

As more of our life and work is conducted online - a trend likely to only continue given developments in the metaverse - it is no surprise that public spaces can be considered either physical or virtual, in either case regardless of whether certain conditions for access may apply.

The AI Act prohibits the use of 'real-time' biometric identification systems in publicly accessible spaces for the purposes of law enforcement unless it is strictly necessary for specific objectives (e.g. searching for victims of crime or prevention of a specific, substantial and imminent threat to life)

The Committee makes a number of proposals to this section, removing the exceptions and including the prohibition (whether with exceptions or not) to include biometric identification systems whether or not they are real-time.

The point we think is of particular interest is that the current AI Act says that use of real-time biometric information does not cover online spaces as they are not physical spaces. However, the Committee is clearly concerned that 'real-time' biometric information systems could be used in the virtual world and should be prohibited in the virtual space also (nb: there is no explanation as to why the proposed 'virtual' is preferred instead of the proposed deleted 'online').

The message is that AI can pose a risk of harm whether or not those harms are in online or virtual public spaces, regardless of whether or not there are conditions for access.

Proposed amendments to Article 5 (Prohibited AI practices)

For the purposes of this Regulation the notion of publicly accessible space should be understood as referring to any physical or virtual place that is accessible to the public, irrespective of whether the place in question is privately or publicly owned. Therefore, the notion does not cover places that are private in nature and normally not freely accessible for third parties, including law enforcement authorities, unless those parties have been specifically invited or authorised, such as homes, private clubs, offices, warehouses and factories. [Proposed deletion: Online spaces are not covered either, as they are not physical] The same principle should apply to virtual publicly accessible spaces. However, the mere fact that certain conditions for accessing a particular space may apply, such as admission tickets or age restrictions, does not mean that the space is not publicly accessible within the meaning of this Regulation. Consequently, in addition to public spaces such as streets, relevant parts of government buildings and most transport infrastructure, spaces such as cinemas, theatres, shops and shopping centres are normally also publicly accessible. Whether a given space is accessible to the public should however be determined on a case-by-case basis, having regard to the specificities of the individual situation at hand.

Harm includes economic harm

The AI Act also seeks to prohibit the placing onto the market or putting into service AI which exploits vulnerabilities of specific groups or uses subliminal techniques to distort a person's behaviour which causes harm to that person or another person. But what sorts of harms are covered?

The Committee has proposed to amend the AI Act so that harms in this instance:

Proposed amendments to Article 5 (Prohibited AI practices)

The following artificial intelligence practices shall be prohibited:

(a) the placing on the market, putting into service or use of an AI system that deploys [Proposed deletion: subliminal] techniques [Proposed deletion: beyond a person's consciousness in order to] with the effect or likely effect of materially [Proposed deletion: distort] distorting a persons behaviour in a manner that causes or is likely to cause that person or another person material or non-material harm including physical [Proposed deletion: or], psychological or economic harm;

(b) the placing on the market, putting into service or use of an AI system that exploits any of the vulnerabilities of a [Proposed deletion: specific group of persons] person due to their known or predicted personality or social or economic situation or due to their age, physical or mental [Proposed deletion: disability] capacity, in order to materially distort the behaviour of a person [Proposed deletion: pertaining to that group] in a manner that causes or is likely to cause that person or another person material or nonmaterial harm, including physical, psychological or economic harm;

Machine-generated news is high-risk

The AI Act identifies specific types of AI systems as high-risk. These include AI systems for the management and operation of critical infrastructure, education and vocational training, law enforcement and administration of justice and democratic processes. High-risk AI would be subject to specific obligations under the AI Act, such as being subject to appropriate human oversight and minimums of technical specification and documentation.

The Committee proposes an additional high-risk AI system: machine-generated news. The message here is that the list of high-risk AI systems is not static; the list will need to be updated over time as AI systems (and the market in which they are used) changes.

Proposed addition of machine-generated news as a high-risk AI system

AI systems used in media and culture, in particular those that create and disseminate machine-generated news articles and those that suggest or prioritize audio visual content should be considered high-risk, since those systems may influence society, spread disinformation and misinformation, have a negative impact on elections and other democratic processes and impact cultural and linguistic diversity.

The AI Act was always going to be the subject of debate and amendment. We are now seeing specific proposals made for what those amendments should be. That does not mean they will be accepted but they do give an indication of the areas of greatest risk and concern, as well as where the AI Act may not be drafted as some think needed (e.g. for precision or flexibility). In other words, watch this space.

{

Overall, the Rapporteur welcomes the European Commissions proposal; however, would like to suggest a few amendments mainly to extend the list of high-risk AI applications in areas of education, media and culture under Annex III and to modify certain provisions related to banned practices under Article 5.

Excerpt from:
EU Artificial Intelligence Act - Proposed Amendments by the EU Committee on Culture and Education - Lexology

TechTank Podcast Episode 39: Civil rights and artificial intelligence: Can the two concepts coexist? – Brookings Institution

Artificial intelligence is now used in virtually all aspects of our lives. Yet unchecked biases within existing algorithmic systems, especially those used in sensitive use cases like financial services, hiring, policing, and housing, have worsened existing societal biases, resulting in the continued systemic discrimination of historically marginalized groups. As banks increase AI usage in loan and appraisal decisions, these populations are subjected to an even greater precision in denials, eroding protections provided by civil rights laws in housing. Meanwhile, the use of facial recognition technologies among law enforcement has resulted in the wrongful arrests of innocent men and women of color through poor data quality and misidentification. These online biases are intrinsically connected to the historical legacies that predate existing and emerging technologies and stand to challenge the policies created to protect historically disadvantaged populations. Can civil rights and algorithmic systems coexist? And, if so, what roles do government agencies and industries play in ensuring fairness, diversity, and inclusion?

On TechTank, Nicol Turner Lee is joined by Renee Cummings, data activist in residence and criminologist at the University of Virginias School of Data Science, and Lisa Rice, president and CEO of the National Fair Housing Alliance. Together, they conduct a deep dive into these difficult questions and offer insight on remedies to this pressing question of equitable AI.

You can listen to the episode and subscribe to theTechTank podcastonApple,Spotify, orAcast.

TechTank is a biweekly podcast from The Brookings Institution exploring the most consequential technology issues of our time. From artificial intelligence and racial bias in algorithms, to Big Tech, the future of work, and the digital divide, TechTank takes abstract ideas and makes them accessible. Moderators Dr. Nicol Turner Lee and Darrell West speak with leading technology experts and policymakers to share new data, ideas, and policy solutions to address the challenges of our new digital world.

All Eye Overlordby Aswin Behera is licensed underCC BY 4.0

See original here:
TechTank Podcast Episode 39: Civil rights and artificial intelligence: Can the two concepts coexist? - Brookings Institution