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Leaders Need to Take Responsibility for, and Action on, Responsible AI Practices – PwC

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5 years ago

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The estimated $15.7trn economic potential of artificial intelligence (AI)[1] will only be realised if the integration of responsible AI practices occurs across organisations, and is considered before any developments take place, according to a new paper by PwC.

Combating a piecemeal approach to AI’s development and integration – which is exposing organisations to potential risks – requires organisations to embed end-to-end understanding, development and integration of responsible AI practices, according to a new toolkit published this week by PwC.

PwC has identified five dimensions organisations need to focus on and tailor for their specific strategy, design, development, and deployment of AI: Governance, Ethics and Regulation, Interpretability & Explainability, Robustness & Security, and Bias and Fairness.

The dimensions focus on embedding strategic planning and governance in AI’s development, combating growing public concern about fairness, trust and accountability.

Earlier this year, 85% of CEOs said AI would significantly change the way they do business in the next five years, and 84% admitted that AI-based decisions need to be explainable in order to be trusted[2].

Speaking this week at the World Economic Forum in Dalian, Anand Rao, Global AI Leader, PwC US, says:

“The issue of ethics and responsibility in AI are clearly of concern to the majority of business leaders. The C-suite needs to actively drive and engage in the end-to-end integration of a responsible and ethically led strategy for the development of AI in order to balance the economic potential gains with the once-in-a-generation transformation it can make on business and society. One without the other represents fundamental reputational, operational and financial risks.”

As part of PwC’s Responsible AI Toolkit, a diagnostic survey enables organisations to assess their understanding and application of responsible and ethical AI practices. In May and June 2019, around 250 respondents involved in the development and deployment of AI completed the assessment.

The results demonstrate immaturity and inconsistency in the understanding and application of responsible and ethical AI practices:

  • Only 25% of respondents said they would prioritise a consideration of the ethical implications of an AI solution before implementing it.
  • One in five (20%) have clearly defined processes for identifying risks associated with AI. Over 60% rely on developers, informal processes, or have no documented procedures.
  • Ethical AI frameworks or considerations existed, but enforcement was not consistent.
  • 56% said they would find it difficult to articulate the cause if their organisation’s AI did something wrong.
  • Over half of respondents have not formalised their approach to assessing AI for bias, citing a lack of knowledge, tools, and ad hoc evaluations.
  • 39% of respondents with AI applied at scale were only “somewhat” sure they know how to stop their AI if it goes wrong.

Anand Rao, Global AI Leader, PwC US, says:

“AI brings opportunity but also inherent challenges around trust and accountability. To realise AI’s productivity prize, success requires integrated organisational and workforce strategies and planning. There is a clear need for those in the C-suite to review the current and future AI practices within their organisation, asking questions to not just tackle potential risks, but also to identify whether adequate strategy, controls and processes are in place.

“AI decisions are not unlike those made by humans. In each case, you need to be able to explain your choices, and understand the associated costs and impacts. That’s not just about technology solutions for bias detection, correction, explanation and building safe and secure systems. It necessitates a new level of holistic leadership that considers the ethical and responsible dimensions of technology’s impact on business, starting on day one.”

Also at the launch this week at the World Economic Forum in Dalian, Wilson Chow, Global Technology, Media and Telecommunications Leader, PwC China, added:

“The foundation for responsible AI is end-to-end enterprise governance. The ability of organisations to answer questions on accountability, alignment and controls will be a defining factor to achieve China’s ambitious AI growth strategy.”

PwC’s Responsible AI Toolkit consists of a flexible and scalable suite of global capabilities, and is designed to enable and support the assessment and development of AI across an organisation, tailored to its unique business requirements and level of AI maturity.

 

SOURCE PwC

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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Praesidiad takes High Court action against competitor and ex-employees for alleged wrongdoing

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40 mins ago

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May 7, 2024

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LONDON, May 7, 2024 /PRNewswire/ — Through its subsidiary, Hesco Bastion Limited (Hesco), legal action has been commenced in the High Court in London against Dirickx Systems Limited (Dirickx) and a number of ex-employees of Hesco.  The claim involves allegations of misuse of confidential information, breach of employee’s duties of good faith, infringement of patent and copyright as well as misrepresentations to customers. 

The allegations of wrongdoing include the removal by the ex-employees, either alone or together, of commercially sensitive information, confidential to Hesco.
Hesco is seeking orders from High Court for appropriate injunctions to restrain further infringing activity, an enquiry into damages or alternatively an account of Dirickx’s profits as well as payment of its legal costs.  A High Court trial in London is expected within 12-18 months.
Dino Koutrouki, CEO, said “Whilst Praesidiad as a business welcomes legitimate competition, it is not prepared to allow the actions of former employees, placed in a position of trust and duty of good faith, to unlawfully take advantage of the foundations of our business in order compete with us.  
Hesco has a proud history as a leading innovator. For over 30 years customers have depended on us for original, high quality life safety products conceived, created and developed by us and tested independently to the highest standards. We have a duty to defend our innovation and our brand through this High Court action. Hesco intends to pursue its claims to the fullest degree, and we confidently expect the litigation process will reveal the full extent of wrongdoing of which the above is only a snapshot.”
Full details of our claim can be viewed on our website and here: Particulars_of_Infringement
Particulars_of_Claim
About Praesidiad
PRÆSIDIAD (www.praesidiad.com) owned brands Betafence and Hesco are market leaders in integrated perimeter and physical security solutions. Global Manufacturers of fencing products, defensive barriers, body armor and industrial mesh; manufacturing and supplying protection around the world.
About HESCO
Hesco (www.hesco.com) is a world leader and innovator in defence, perimeter protection and security systems, including defensive barriers, flood barriers, rapid deployment systems, safe haven bunkers and ballistic resistant body armor.
Hesco is synonymous with force protection and is recognised across its industry for its commitment to saving lives, property and the environment, whenever and wherever it is needed.
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View original content:https://www.prnewswire.co.uk/news-releases/praesidiad-takes-high-court-action-against-competitor-and-ex-employees-for-alleged-wrongdoing-302134886.html

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Pudu Robotics Debuts Advanced Smart Cleaning Tech at Interclean Amsterdam

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40 mins ago

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May 7, 2024

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AMSTERDAM, May 7, 2024 /PRNewswire/ — In a move that underscores its innovation in smart cleaning technology, Pudu Robotics (“PUDU”), the global leader in service robotics, is set to captivate the cleaning industry with its first appearance at the prestigious Interclean Amsterdam 2024, the largest professional cleaning trade show in the world and unsurpassed in its role as an international business networking platform for the cleaning and hygiene industry.

From May 14-17, PUDU’s booth in Hall 5 05.317 at RAI Amsterdam will serve as a beacon for innovation, inviting industry professionals to explore the new cleaning frontier, where they will have the exclusive opportunity to witness cutting-edge advancements in cleaning technology.
The spotlight of this year’s showcase is undoubtedly on the official debut of the highly anticipated and newly upgraded PUDU SH1, a smart upright scrubber dryer that is set to redefine cleaning efficiency and effectiveness. Scheduled for May 14th between 14:00-15:00, an unveiling ceremony will introduce attendees to this next-generation cleaner. This event will include insightful presentations from product experts detailing key upgrades of PUDU SH1 and an overview of new solutions provided by its counterpart, PUDU CC1.
In addition to product introductions, visitors are encouraged to engage with live demonstrations taking place at the Robot Arena throughout the exhibition days.
PUDU’s Daily Demonstration Schedule at the Robot Arena
– Tuesday, May 14: Sessions at 10:45, 12:30, 14:15, and 16:00- Wednesday, May 15: Sessions at 11:15, 13:00, 14:45, and 16:30- Thursday, May 16: Sessions at 10:15, 12:00, 13:45, 15:30 and 17:15- Friday, May 17: Session at 11:30
These sessions offer a hands-on experience with PUDU CC1 while facilitating direct interaction with specialists who can provide deeper insights into their operational capabilities and benefits.
PUDU is enthusiastic about engaging with fellow innovators and stakeholders who are keen on developing future clean environments through intelligent technology. By showcasing its technological prowess and commitment to advancing smart cleaning solutions, PUDU aims to showcase new products, foster industry connections and seek potential partnerships at Interclean Amsterdam 2024.
To learn more about the latest information on cleaning products and to gain an immersive experience, visitors can register through the following link to obtain FREE tickets from PUDU:
https://register.visitcloud.com/survey/2hdir9zqg5391?actioncode=NTWO001675WTZ&partner-contact=03bjh516im8tu 
About Pudu Robotics
Pudu Robotics, a global leader in the service robotics sector, is dedicated to enhancing human productivity and living standards through innovative robot technology. With a focus on R&D, manufacturing, and sales of service robots, Pudu Robotics holds nearly a thousand authorized patents worldwide, encompassing a wide range of core technologies. The company’s robots have been widely adopted in various industries, including dining, retail, hospitality, healthcare, entertainment, education, and manufacturing. To date, Pudu Robotics has successfully shipped over 70,000 units to a variety of markets, with a presence in more than 60 countries and regions worldwide.
For more information on business developments and updates, follow PUDU on Facebook, YouTube, LinkedIn, Twitter, and Instagram.
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View original content:https://www.prnewswire.co.uk/news-releases/pudu-robotics-debuts-advanced-smart-cleaning-tech-at-interclean-amsterdam-302137623.html

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Artificial Intelligence

Clarivate Introduces Epidemiology Intelligence™ for Precision Patient Population Analysis

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40 mins ago

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May 7, 2024

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Empowering biopharma with unified epidemiology, incidence and prevalence data alongside claims-based population insights, for precise market sizing and patient population analysis
LONDON, May 7, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, today announced the launch of Epidemiology Intelligence™. The new solution combines rich insights from epidemiology, incidence and prevalence database solutions. It includes U.S. claims-based population insights to empower biopharma companies to accurately gauge market size and target patient demographics with ease.

In today’s rapidly evolving market landscape, precise forecasting is essential for biopharmaceutical companies. Yet, traditional research methods often come with limitations that can lead to inaccurate estimations and costly consequences. Epidemiology Intelligence empowers users with unique insights to address critical questions about the drug-treatable population. The solution facilitates precise assessments, identification of niche populations and accurate predictions based on population insights.
Ravindra Sharma, VP Product Management, Clarivate, said: “The launch of Epidemiology Intelligence marks a significant milestone for Clarivate in our ongoing commitment to deliver comprehensive and actionable solutions to life sciences and healthcare companies. Clients can now access comprehensive coverage of disease epidemiology paired with expert analysis, seamlessly integrated into a unified platform. The new solution enables them to deliver safe, effective and commercially successful treatments to patients faster.”
Epidemiology Intelligence accelerates data-driven decision-making across the drug development lifecycle. Clients can benchmark market forecasts, validate investments, pinpoint growth opportunities and utilize the solution to strategically position their products for success.
To learn more about Epidemiology Intelligence, visit here.
About Epidemiology Intelligence
Epidemiology Intelligence is a new, unified Clarivate patient population offering that brings together our legacy Epidemiology and Incidence and Prevalence Database solutions, as well as claims-based population insights, on a single platform. This transformative solution offers user-friendly visualizations, easy data exports and a unique breadth and depth of patient population insights. Conduct thorough market assessment with comprehensive coverage across 1200+ diseases and procedures. Dive deep into expert disease-specific epidemiology analysis and 10 and 20-year forecasts across 220 indications and over 5000 patient populations. Leverage expanded patient segmentation and location granularity with insights sourced from Clarivate U.S. Real-World Data.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Catherine DanielDirector External Communications, Life Sciences & [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/clarivate-introduces-epidemiology-intelligence-for-precision-patient-population-analysis-302136896.html

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