artificial intelligence

When the data is wrong, it's people that fix problems.

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"Go back to the data." "The answer's in the data." "Data is the key".

Maybe.

Until it goes wrong.

FCRO Subsection:

Learning

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For a tech company, Google is pretty poor at tech - and uses it to keep users' money.

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We had an e-mail this morning from Google about our Adsense account. That was a rabbit hole we thought we'd escaped from. But they said they owed us money so we thought we'd claim it.

That's when it all started to go very, very badly wrong.

CoNet Section:

IT & Communications

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Software company says its contract analysis product is more accurate and faster than lawyers

An Israeli software company, LawGeex, has released a report which it says establishes the principle that its software can analyse contracts faster and more accurately (and therefore much cheaper) than lawyers specialising in the specific field under review. Using the trendy tags "artificial intelligence" and "deep learning," the methodology of the test and its results show good reason for lawyers to think the future might be about to become ultra-tough. Or provide new opportunities to improve revenue per junior fee earner.

CoNet Section:

Legal Profession

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Artificial Intelligence and the detection and prevention of money laundering.

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There's much jargon flying around in the world of counter-money laundering. It starts with the mistaken name of "anti-money laundering," via the equally erroneous "red flags" to the current vogue terms of "artificial intelligence" and "machine learning." As FinTech and RegTech have passed their media bubble phases, the next wave is so-called "AI AML."

Think about this: when you install any form of AI, you are outsourcing to the software providers the function that the law requires that your staff perform.

Before you even meet the representatives of the start-ups that want to either bolt onto or supplant your existing technology provider, there are several questions you must ask. Here they are.

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Google's AI isn't actually intelligent: its error shows it facilitates bank targeted fraud

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Like so many developers of so-called artificial intelligence, Google is proud of its efforts and, yet, once again AI has proved that it is often a failure waiting to happen. But this example is ever funnier - and more worrying. Someone has manipulated it and the target, amazingly, is people working in e.g. banks. Should banks, etc. now ban Google Alerts?

CoNet Section:

IT & Communications

And you think AI will protect your bank?

CoNet Section:

IT & Communications

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