Unethical, Crowd, Alternative, Resilience, Ethics, Banking

This week, we begin with an article about how datasets are still being used after they’ve been retracted, leading to growing privacy and ethical concerns over AI/ML datasets. Next, we have a piece on Transfermarkt, a website that provides basic to advanced information about 8,40,000 soccer players and their market value. The following article examines Similarweb, an alternative data source that tracks consumer behaviour for hedge funds, investors, and asset managers. Following that, we have an article discussing India’s need for a village-level spatial database to design resilient rural management plans in the wake of the IPCC report. Next is a VentureBeat interview with Noelle Silver discussing the importance of AI literacy for executives and youth, as well as her AI community efforts. Finally, we have an article about how fintech operating in open banking may avoid unethical outcomes by collaborating with data industries to establish data ethics standards.

Deleting Unethical Data Sets Isn’t Good Enough

In 2016, hoping to spur advancements in facial recognition, Microsoft released the largest face database in the world. Called MS-Celeb-1M, it contained 10 million images of 100,000 celebrities’ faces. “Celebrity” was loosely defined, though. Three years later, researchers Adam Harvey and Jules LaPlace scoured the data set and found many ordinary individuals, like journalists, artists, activists, and academics, who maintain an online presence for their professional lives. None had given consent to be included, and yet their faces had found their way into the database and beyond; research using the collection of faces was conducted by companies including Facebook, IBM, Baidu, and SenseTime, one of China’s largest facial recognition giants, which sells its technology to the Chinese police.

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The Wisdom Of The Crowd

Conspicuous consumption runs through soccer’s billion-dollar transfer market. Club executives hold meetings in deluxe suites in the finest hotels in London, Monte Carlo and Milan: the Connaught, the Méridien, the Palazzo Parigi. There, they haggle with agents in tailored suits over eye-watering transfer fees, lavish salaries and towering commissions. The players being traded sink into the plush leather seats of private jets to travel between clubs, before signing contracts worth tens of millions of dollars in sumptuous, state-of-the-art training facilities.

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How Alternative Data Is Reshaping Investor Insights During The IPO Process

While the ongoing expansion and evolution of alternative datasets can help hedge funds and investors uncover detailed information and insights ahead of a company’s initial public offering, how they ultimately use that data remains critical to the success or failure of an investment idea. For Ed Lavery, Director of Investor Solutions at web analytics provider Similarweb, alternative data sources not only help investors understand a company in isolation – but also, crucially, how the company is growing in relation to its market and competitors.

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To Build Rural Resilience, India Needs A Village-Level Spatial Database

Rural resilience by definition is the capacity of rural areas to simultaneously balance ecologic, economic, and social-cultural systems, and cope with their vulnerabilities in the face of continuously changing extraneous circumstances. These systems are entangled and interactions among them are increasing in intensity and scale. Vulnerability in one sector automatically affects the other sectors and exposes rural areas to greater risks and uncertainties as we are witnessing now. Close on the heels of the unprecedented COVID-19 pandemic, the world is on the brink of another challenge on account of drought.

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Why AI Ethics Needs To Address AI Literacy, Not Just Bias

Women in the AI field are making research breakthroughs, spearheading vital ethical discussions, and inspiring the next generation of AI professionals. We created the VentureBeat Women in AI Awards to emphasize the importance of their voices, work, and experience and to shine a light on some of these leaders. In this series, publishing Fridays, we’re diving deeper into conversations with this year’s winners, whom we honored recently at Transform 2021. Check out last week’s interview with the winner of our AI research award. When you hear about AI ethics, it’s mostly about bias. But Noelle Silver, a winner of VentureBeat’s Women in AI responsibility and ethics award, has dedicated herself to an often overlooked part of the responsible AI equation: AI literacy.

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The Data Ethics Of Open Banking

Over the past three years the Open Banking movement has quietly gathered pace in the UK. Without realising it, many people are now benefiting from new products and processes that have been enabled by Open Banking’s free flow of financial data. Each month brings new use cases that range from incremental user experience improvements – such as easing KYC requirements – to more exciting innovative applications in the field of predictive analytics. Although we are yet to see the ‘killer application’, it really is only a matter of time before this happens and Open Banking really takes off. Therefore,  it is the perfect moment for the fintech and data industries to work together to set data ethics standards to guide the future of the sector. 

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Source:  https://mailchi.mp/zigram/data-asset-weekly-dispatch_16_august_1

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