<
https://theconversation.com/beware-businesses-claiming-to-use-trailblazing-technology-they-might-just-be-ai-washing-to-snare-investors-226717>
"Staying competitive in the finance sector is vital, with many companies moving
quickly to adopt artificial intelligence (AI) to reduce costs and streamline
operations.
But two companies recently came unstuck when the United States Securities and
Exchange Commission (SEC) accused them of exaggerating their use of AI, marking
the world’s first significant move in combating so-called “AI washing”.
Delphia (USA) Inc and Global Predictions Inc, boasted about using AI for
designing investment strategies, but the SEC found their claims to be
unsubstantiated.
There’s much speculation around AI, especially with generative technology app
ChatGPT shaking things up. But amid all the hype, AI washing is becoming more
common.
As well as exaggerating or misrepresenting their AI capabilities, companies may
inflate the abilities of AI algorithms or create the illusion AI plays a more
significant role than it actually does."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
