EY launches advanced tool to assess trustworthiness of AI technology

12 April 2019 Consultancy-me.com

Global professional services firm Ernst & Young has announced the release of an advanced analytical tool to assess the trustworthiness of artificial intelligence.

Enabled by Microsoft Azure, the EY Trusted AI platform released by the global professional services firm Ernst & Young produces a technical score of an artificial intelligence system by leveraging advanced analytics to evaluate its technical design, measuring risk drivers including its “objective, underlying technologies, technical operating environment and level of autonomy compared with human oversight.”

Aimed at helping to resolve the issue of trust in technology, which the firm contends is the biggest barrier to wider AI adoption, the new tool’s risk scoring model is based on the ‘EY Trusted AI conceptual framework’ launched last year, which speaks to embedding trust mechanisms in an AI system at the earliest stages around the core pillars of ethics, social responsibility, accountability and explainability, and reliability.

“Trust must be a front-line consideration, rather than a box to check after an AI system goes live,” said Keith Strier, EY’s Global Advisory Leader for Artificial Intelligence. “Unlike traditional software, which can be fixed, tested and patched, if a neural network is trained on biased data, it may be impossible to fix, and the entire investment could be lost.”AI system overviewUsers of the new solution such as AI developers, executive sponsors, and risk professionals will be able to garner deeper insights into a given AI system to better identify and mitigate risks unique to artificial intelligence technology, with the platform score produced by the tool subject to a complex multiplier based on the impact on users – taking into account potential unintended consequences such as social and ethical implications.

According to the firm, it’s the first solution designed to help enterprises evaluate, monitor and quantify the impact and trustworthiness of AI, while an evaluation of governance and control maturity further serves to reduce residual risks and allow greater planning – helping to safeguard “products, brands, relationships and reputations” in the contemporary risk environment.

“If AI is to reach its full potential, we need a more granular view – the ability to predict conditions that amplify risks and then target mitigation strategies for risks that may undermine trust, while still considering traditional system risks such as reliability, performance and security,” said EY Global Trusted Artificial Intelligence Advisory Leader Cathy Cobey.

Offered as a standalone or managed service – which will be regularly updated with new AI risk metrics, measurement techniques and monitoring tools – the new solution will be available to clients globally this year, with further features including a guided interactive, web-based interface and a function to drill down for additional detail, as well as the ability to perform dynamic risk forecasting on when an AI component changes – such as an agent’s functional capabilities or level of autonomy.

Profile

Prop-tech company Estater launches in Bahrain in country-first

03 April 2019 Consultancy-me.com

Bahrain has welcomed the arrival of Estater – said to be the Kingdom’s first dedicated Prop-Tech company.

The Bahrain Economic Development Board (EDB) has celebrated the Kingdom’s selection as the regional hub for Indian-origin Prop-Tech company Estater, said to be the first such entry in the country. Noted in a recent KPMG report as having the most liberalised and competitive ICT sector in the GCC, the Kingdom continues to advance its growing reputation as a regional technology hub.

“Estater is delighted to select Bahrain as a hub for its regional operations,” said Estater’s Managing Director Sanjay Goyal. “A favourable business environment for international investors coupled with good regional connectivity makes Bahrain an ideal choice for us. Real estate value chain in the region is up for several exciting changes and we promise Estater will be one of the change agents.”

With further operations in India and Kuwait, the real estate advisory’s Geo Estater platform uses GIS (Geographic Information Systems) mapping technology to provide market intelligence for developers, investors and financiers across the commercial, industrial, residential, retail and hospitality segments, with the firm claiming to have carried out more than 250 research studies in its ten years to date.Prop-tech company Estater launches in Bahrain in country-firstSlow to embrace technological innovation compared to other industries, the real estate PropTech segment (which together with geospatial data tools includes rapidly emerging technologies such as IoT-powered smart-building, drones, augmented reality, 3D printing and laser scanning) is now booming, with another KPMG survey finding that 86 percent of industry respondents accept that digital technology would have an least somewhat significant impact on the market.

“Digital innovation is progressing in Bahrain, and is cutting across sectors and domains like never before,” said EDB Director of Real Estate Investment Development at Bahrain Ali Murtaza. “We are pleased to welcome Estater, the first proptech company to set up in Bahrain, and look forward to the transformation it will bring to the real estate sector, which is one of the top performers in our economy.”

Citing the Kingdom’s business development support network via agencies such as the EDB, StartUp Bahrain and Tamkeen, and its vibrant startup ecosystem of over 90 companies – punctuated by the launch of fintech hub Bahrain Fintech Bay at the beginning of last year – Murtaza adds of Estater’s entry; “Their choice to expand into our growing ecosystem reinforces Bahrain’s position as a hub for startups and for proptech firms especially.”