State of ModelOps: 90% expect a dedicated budget within 12 months, 80% say risk-management is a key AI barrier

The first annual State of ModelOps report highlights some interesting trends about the real-world adoption of AI in enterprises.

Independent research firm Corinium Intelligence conducted the study on behalf of ModelOp and aims to summarise the state of model operationalisation today.

Stu Bailey, Co-Founder and Chief Enterprise AI Architect at ModelOp, said:

“As the report shows, enterprises increasingly view ModelOps as the key to ensuring operational...

EU regulation sets fines of €20M or up to 4% of turnover for AI misuse

A leaked draft of EU regulation around the use of AI sets hefty fines of up to €20 million or four percent of global turnover (whichever is greater.)

The regulation (PDF) was first reported by Politico and is expected to be announced next week on April 21st.

In the draft, the legislation’s authors wrote:

“Some of the uses and applications of artificial intelligence may generate risks and cause harm to interests and rights that are protected by Union law....

Opinion: Adjusting and transforming with AI technologies

When it comes to adopting the latest technologies and enhancing service delivery effectiveness, contact centres have been silently leading the way for years. Few other parts of the business have had to adapt so quickly to the demands of today’s connected consumers, first transitioning from voice to omnichannel and then to becoming engagement hubs supporting a growing number of proactive channels of customer interaction.

For some time now, the sector has also been at the...

TUC: Employment law gaps will lead to staff ‘hired and fired by algorithm’

Legal experts and the Trades Union Congress (TUC) have warned that gaps in employment law will lead to staff “hired and fired by algorithm”.

A report, commissioned by the TUC and carried out by leading employment rights lawyers Robin Allen QC and Dee Masters from the AI Law Consultancy, claims there are “huge gaps” in British law.

“The TUC is right to call for urgent legislative changes to ensure that workers and companies can both enjoy the benefits of AI,”...

Research finds 1.4 million UK jobs could be automated this year

According to a Faethm AI forecast, over 1.4 million jobs in the UK could be replaced by automation this year alone.

Faethm’s mission is to prepare the world “for the future of work” by using an AI engine – trained on billions of workforce data points – to predict what jobs need reskilling versus upskilling.

James McLeod, VP of the EMEA region at Faethm, said

“Employers and employees alike need to change their perspective. The future of work is...

Opinion: Industrial transformation and the path to autonomy

It is hard to believe a bullet train is piloted by a human in the cockpit. Would you let this person take over the train at 300 miles/hour? In such a technologically advanced world, critical industrial processes such as inspections are inefficient, costly, and wasteful.

Countries are aware of their inefficiencies; according to a study by the International Monetary Fund, countries waste about one-third of their infrastructure spending due to inefficiencies. As digital technologies...

CDEI: Public believes tech isn’t being fully utilised to tackle pandemic, greater use depends on governance trust

Research from the UK government’s Centre for Data Ethics and Innovation (CDEI) has found the public believes technology isn’t being fully utilised to tackle the pandemic, but greater use requires trust in how it is governed.

CDEI advises the government on the responsible use of AI and data-driven technologies. Between June and December 2020, the advisory body polled over 12,000 people to gauge sentiment around how such technologies are being used.

Edwina Dunn, Deputy...

Algorithmia’s latest tools aim to solve ML governance challenges

Algorithmia is today debuting new reporting tools which aim to solve machine learning (ML) governance challenges.

Research conducted by the company found that the number one challenge organisations are facing with their deployments is governance.

56 percent of the IT leaders surveyed by Algorithmia ranked governance, security, and auditability issues as a major concern. 67 percent report having to comply with multiple regulations—of which the penalties of failing to do...

Strategy Analytics defines path to AI vendor and buyer success in new report

Research firm Strategy Analytics has argued in a new report that both vendors of AI products and their users can succeed with a 'thorough understanding' of customer journeys.

The report, 'Defining the AI Buyer Journey', aims to take a comprehensive view of the 'who, what, why and how long' issues in the buyer journey, from paths to selection, paths to adoption, and implementation.

The goal is to avoid all 'AI-washing' where possible. This can occur on both the vendor...

From experimentation to implementation: How AI is proving its worth in financial services

For financial institutions, recovering from the pandemic will put an end to tentative experiments with artificial intelligence (AI) and machine learning (ML), and demand their large-scale adoption. The crisis has required financial organisations to respond to customer needs around the clock. Many are therefore transforming with ever-increasing pace, but they must ensure that their core critical operations continue to run smoothly. This has sparked an interest in AI and ML solutions, which...