Archive for the ‘Artificial Intelligence’ Category

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.

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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.

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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.

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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.

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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.

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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

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

What Is AI And How Does It Work? Your Guide To Artificial Intelligence – Swarajya

Intelligence is something we humans thrive on. We think of ourselves as the most intelligent beings, certainly on this planet but possibly in the entire universe.

However, it is a notoriously difficult task to define what intelligence really is.

Among various definitions, perspectives, and outlooks, the standard consensus is that a being is intelligent if it can respond to events and stimuli around it and be able to manipulate either the surroundings or itself to make things better for itself.

This definition suits artificial intelligence nicely since it can be adapted to non-living beings almost readily.

Artificial intelligence, more commonly known by its abbreviation AI, is the field of study that analyses this process of understanding or gaining intelligence; it is also concerned with building systems or agents that display such intelligent behaviour.

Given todays pervasion of AI in almost every field of innovation and development, starting from driverless cars to the recommendation of products online to personalised healthcare to natural language conversations, it is important to understand what artificial intelligence really is, and its capabilities and inabilities.

Comparison of AI systems with humans is natural. Throughout history, most such systems have been modelled on humans. However, humans may not always show what is called rational behaviour, in the sense that a human may choose an action that does not necessarily produce the best outcome for themselves. There is, thus, a dichotomy of human behaviour versus rational behaviour.

Perspectives Of AI

Using this dichotomy, the field of AI can be analysed from four broad perspectives. These perspectives test the ability of an AI system from four different angles.

The first is the ability to act humanly, that is, whether the system can mimic a human in its actions.

The most famous thought experiment in this field is called the Turing Test, named after British mathematician Alan Turing.

In this experiment, a set of questions is asked to a human being as well as an AI system and the responses are collected. The human interrogator does not know who is who, and the AI system passes the Turing Test if the interrogator cannot distinguish between the two.

This does not require the AI system to be correct or perfect. In fact, since its role is to mimic a human, and humans are error-prone, a perfect set of responses may actually give the game away.

The Turing Test requires the AI system to have the capabilities of natural language processing (to understand the questions written in a human language), knowledge representation (to store and process what it knows), automated reasoning (to answer a question by processing the stored knowledge), and machine learning (to adapt to new questions and draw conclusions from previous experience).

Researchers have proposed extending the Turing Test to the Total Turing Test, which requires the AI system to interact with humans and objects in the real world. This requires the additional capabilities of computer vision and speech recognition (to perceive the real world) and robotics (to manipulate objects in the real world).

The second important perspective of AI is the ability to 'think humanly'.

Testing this ability requires the development of a model of the human mind and thoughts. Cognitive science and psychology are two important subjects that deal with this aspect. Testable hypotheses of the human mind are designed and experiments performed to test the validity of the hypotheses.

The third and fourth perspectives deal with rationality, a subject that has been discussed and debated in philosophical treatises over centuries across the world.

One of the important ways to understand rationality is through the use of 'logic'. Can a conclusion be arrived at logically?

The stock example, due probably to Aristotle, is if the predicates Socrates is a man and all men are mortal are true, is the conclusion Socrates is mortal valid?

The conclusion can be arrived at by applying deductive reasoning. This logical argument structure is called syllogism. The third perspective of an AI system, to 'think rationally', tests this aspect.

While statements such as all men are mortal are certain, most real-life statements, such as India will win the next cricket world cup, cannot be determined to be either completely true or completely false. The field of probability and statistics here comes to the rescue. Uncertain information about predicates is handled by associating them with probabilities.

The fourth perspective is to go beyond thinking and test the ability to 'act rationally'.

A rational AI system not only thinks rationally but also takes action such that it achieves the best outcome. It is easy to understand this for board games such as chess and 'go', where an AI player is pitted against a human opponent. The objective is to win the game and the move that is most likely to achieve it is the best move. IBMs Deep Blue and Googles AlphaGo systems caused quite a flutter when they beat the best human players.

The last perspective, however, opens a Pandoras box. Acting 'rationally' may not always be acting the 'best' in terms of human interests or interactions.

Consider, for example, a chess-playing machine. If the goal is to win the game, the machine is free to do whatever it deems advantageous as long as the rules of the game are not violated. It can, for example, shine a light on the eyes of the human opponent or increase the temperature of the room to uncomfortable levels to disturb the thinking process.

While some such conducts can be disallowed explicitly, it is not always easy or possible to list all the possibilities that a machine may take to achieve its goal. Asimovs Three Laws of Robotics, for example, only lists broad rules where human beings cannot be hurt. Hence, the paradigm of 'acting rationally' can be modified to 'acting the best for a human'.

This leads to important discussions on where AI is headed. We will return to it in part two of this article.

Technical Paradigms Of AI

We now discuss the field of artificial intelligence from a technical standpoint.

The first broad paradigm of AI is problem solving. A large part of problem solving involves searching. Given a set of rules and an objective, an AI system searches its next move among a maze of possibilities such that, eventually, the goal is reached.

Navigating around obstacles for robots to conclude a task is a prime example. Sometimes, objectives are modelled as games with utility functions for each move. Should country X build up a nuclear arsenal? The decision is not unilateral because it depends on how enemy countries are behaving. The field of game theory developed by economists is used to solve and analyse such games.

The third important type of problem solving involves constraint satisfaction problems. Given a set of variables with their domains, can each variable be assigned a value without violating a given set of constraints?

Important application areas include job scheduling, such as in a car assembly system. Constraints, such as a wheel axle needing to be fixed before putting on the wheels, must be respected, and the objective is to find a parallel assignment of tasks to limit the total assembly time to less than the target time.

Propositional logic and first-order logic form the basis of the second important sub-field, which is reasoning and logic. The example of Socrates earlier highlights the use of logic. Knowledge representation and reasoning builds upon such logic systems.

An important concept is that of an ontology that describes the categories and relationships the objects in the system can have. It is often organised in a hierarchy with inherited properties. Thus, if the task is to find a human who knows Sanskrit, the system can return a woman since it can reason that a woman is a human being.

Since in real life most situations are uncertain and facts and relationships are mostly likely rather than certain, this leads to the next paradigm, that of uncertain knowledge and reasoning. Probabilistic reasoning using tools such as Bayesian networks and hidden Markov models derive probabilities of events or inferences.

An interesting example is trying to guess the weather outside by sitting in a room and only observing if visitors are carrying umbrellas. Decision-making systems use such probabilistic reasoning to meet a goal in collaborative as well as adversarial environments.

The fourth paradigm of AI, machine learning (or ML), is undoubtedly the most popular paradigm in both research as well as common parlance. It is so popular and pervasive that even students of AI often mistake ML to be AI.

Machine learning is the 'art' of making a machine or system learn how to achieve an objective without providing an explicit way of doing it.

Driving a car is a great example. When a human is taught driving, only some general rules are mentioned, such as that pressing the brake stops the car and turning the wheel changes the direction of the car. No human is or can be taught to rotate the wheel by x degrees at y speed so as to negotiate a turn of z degrees on the road for all combinations of x, y, and z. That comes from the experience of driving a car.

The same is true for machine learning systems. A system is given a lot of examples to learn from. In the supervised learning setting, each such example is additionally endowed with a class tag, while in an unsupervised setting, the tag is missing. The system then undergoes 'training' using these examples; often, it uses a 'validation' set to assess how well it has learned, and repeat the training if needed.

Students use this kind of validation when they try to solve previous years examination papers; if they do not do well, they go back to training.

After the machine is trained, given a 'test' object, the machine tries to reason about it correctly. The reasoning is typically classification, where the task is to predict what class the object falls under, or regression, where an exact value is predicted.

Examples of classification include identifying a handwritten digit, deciding whether an email is spam or normal, and diagnosing whether a medical image indicates disease. Unsupervised learning problems include clustering and anomaly detection. Detecting anomalies automatically is especially important in network intrusion detection systems.

In recent years, the semi-supervised learning setting has also come up, where a few examples with the class are given while a lot more are without a class tag.

Machine learning also includes reinforcement learning, where a machine is 'rewarded' when it produces a good outcome and 'punished' when it does not. The immediate parallel that can be drawn is training animals to perform in circuses. Reinforcement learning is used in various real-life applications, including driverless cars (to control acceleration and braking), stock price predictions, and recommendation systems.

Important machine learning models include decision trees, support vector machines, and artificial neural networks (or ANN).

ANNs are particularly important since they try to mimic the working of a human nervous system where information is processed and then passed on from one neuron to the next, layer by layer (neurons are called nodes in ANNs).

An extremely successful family of ML models is a type of ANNs, called deep neural networks (or DNN). The process of inferencing using DNNs is called deep learning.

In essence, DNNs are simply variants of ANNs that have multiple layers of hidden nodes (this multiplicity of layers lends the name 'deep'). They are astonishingly accurate in solving a wide range of real-life problems and, in many areas, have outperformed human experts. Their stunning successes in even humanesque tasks, such as language processing and conversation, is stupefying.

This success is in part due to the architecture of such machines. It has been shown that given enough training data, DNNs can model any mathematical function to any arbitrary precision. This, however, requires the use of an enormous number of hidden nodes and layers.

The advancement of computing paradigms, tagged data, and available hardware, such as GPUs (or graphical processing units), have contributed massively to this success. Consequently, it is not uncommon nowadays to encounter DNNs with hundreds of crores of parameters.

This was the first of two parts covering the basics of artificial intelligence. The next part will cover the applications, issues, and future of AI.

This article has been published as part of Swasti 22, the Swarajya Science and Technology Initiative 2022. We are inviting submissions towards the initiative.

Other Swasti 22 reads:

The Basics Of A Quantum Computer, Explained

National Science Day: The Raman Effect And One Of Its Key Applications, Explained

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What Is AI And How Does It Work? Your Guide To Artificial Intelligence - Swarajya