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AI models could help companies overcome human bias

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Machine learning algorithms can reinforce human bias, but representatives from HireVue Inc. and Kantar Millward…

Brown recently argued that they may also be able to remove our biases from processes.

HireVue CTO Loren Larsen said the AI models developed by the on-demand video interview platform company not only make the search for strong candidates more efficient, they also make it fairer for those applying.

The technology enables companies to scale the search process, meaning they can “take more chances and just let someone take [an interview] slot,” Larsen said at the recent Emotion AI Summit in Boston. By adding machine learning, HireVue is hoping to take things a step further and reduce human bias in the hiring process.

Take the example of how a candidate’s looks affect the job search. A HireVue data scientist developed an AI model to determine how much attractiveness might factor into hiring decisions. The model was trained on a public database of images and then was used to score attractiveness on a scale from one to 10.

“It turns out that if you got a seven or higher, you’re twice as likely to get hired than if you were a three,” Larsen said. That figure might be palatable if attractiveness equated to job performance, but, HireVue’s study couldn’t find a correlation between the two.

To that end, HireVue has striven to build AI models that can predict a job applicant’s potential performance — without a human in the loop. The models look for “traditional competencies,” according to Larsen, such as a candidate’s emotional awareness; negotiation skills; ability to collaborate, work with a team and learn.

HireVue’s AI models not only consider what’s being said by job candidates, but how it’s being said. They’re trained to factor in facial expressions and emotion — technology that’s powered by Affectiva, a software company spun out of the MIT Media Lab as well as the conference host.

AI models in advertising

At Kantar Millward Brown, a market research company based out of London, Affectiva’s software is helping make the case for more inclusive commercials. The company specializes in “advertising development work.” It helps clients understand how their ads are likely to be received by viewers and then finds ways to make them better.

“Some of that is done in what this audience may think of as a relatively old-school way: We show people the ads and ask them questions,” said Graham Page, executive vice president and head of global research solutions, at the summit.

Some of the work is done in a decidedly modern way. The firm films participants in a focus group as they watch an advertisement, and then it analyzes facial expressions and other  physiological data using Affectiva’s software “to understand the emotional response to the ad as it plays and what the key moments are that really resonated with people,” Page said.

For example, an analysis of advertisements done for Unilever, one of Kantar Millward Brown’s biggest clients, found that the ads categorized as “more progressive,” or more diverse, were 25% more effective than advertisements categorized as “less progressive,” or more stereotypical. And ads categorized as the least progressive were twice as likely to achieve the lowest scores on effectiveness, according to Page.

He described this study and others that have shown similar findings as “instructive” in that they help build a case for other businesses that “things like progressive advertisements are not only ethically the right thing to do, they’re also good for business,” he said.

‘IT departments suck’

IT’s reputation is still dubious, at least according to the VC panelists at the conference. When the moderator asked what advice the VCs could provide startups on how to sell to corporations, Krishna Gupta from Romulus Capital didn’t mince words: “IT departments suck.” He described integration as a rate limiter for many companies.

Janet Bannister, partner at Real Ventures in Montreal, suggested startups fret less about selling against other startups and more about selling against incumbents. She said large companies might understand that a startup can solve a problem better than the technology they’re currently using, but see the startup’s future as uncertain. “Having a strong use case, other customers using the product and great investors that will speak on the company’s behalf” may help assuage a large company’s concerns, she said.

Say what?!?

“Humans are unique. We’re awesome. Let’s get beyond that point and look at the attributes that we need in an artificial intelligence system that would enable us to trust it with more and more functionality. I think it’s a continuum. Just like ethics is a continuum. Morality is a continuum. … And I think we need to invite our machines into that continuum, that struggle, that wrestle that we’re in.” — Babak Hodjat, founder and chief scientist, Sentient Technology

“It’s kind of a tough time to think about how we encourage people to trust AI. And that’s particularly true given that some of the biggest businesses that use AI, particularly in the social sharing space, are at the absolute center of a massive crisis of trust.” — Graham Page, executive vice president and head of global research solutions, Kantar Millward Brown

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Source: https://searchcio.techtarget.com/news/252449410/AI-models-could-help-companies-overcome-human-bias

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Meituan shares slump as fallout from CEO’s poem post festers

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SHANGHAI (Reuters) – Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping.

The company, which recently raised $10 billion, has lost $30 billion in market value over two days amid a broader drop in Chinese tech shares as investors remain jittery over a regulatory clampdown that last month ensnared Meituan.

The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. While many on Chinese social media interpreted the posting as an allusion to the anti-monopoly campaign backed by Xi, Wang on Sunday said he was referring to business rivals, saying that “the most dangerous opponents are often unexpected ones”.

The original posting has been removed.

Meituan declined further comment.

Adding to investor concerns, the Shanghai Consumer Council said late on Monday that it had summoned Meituan and e-commerce firm Pinduoduo, accusing them of violating consumer rights. On Tuesday, Meituan shares tumbled 5.3% to a seven-month low. “I think mainland investors paid more attention to the poem, but international investors are more worried about the rising cost of employing riders of the company,” said Fred Wong, chief investment officer at Hong Kong-based eFusion Capital.

He was referring to social media criticism of Meituan and other industry players’ treatment of delivery riders, most of whom are not covered by basic social and medical insurance.

The Hang Seng Tech Index, which includes Chinese tech giants Alibaba, Tencent and JD.com, dropped as much as 4.5% on Tuesday to a six-month low.

(Reporting by Shanghai and Beijing newsrooms, Editing by Tony Munroe and Gabriela Baczynska)

Image Credit: Reuters

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Source: https://datafloq.com/read/meituan-shares-slump-fallout-ceos-poem-post-festers/14574

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Meituan shares slump as fallout from CEO’s poem post festers

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Published

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SHANGHAI (Reuters) – Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping.

The company, which recently raised $10 billion, has lost $30 billion in market value over two days amid a broader drop in Chinese tech shares as investors remain jittery over a regulatory clampdown that last month ensnared Meituan.

The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. While many on Chinese social media interpreted the posting as an allusion to the anti-monopoly campaign backed by Xi, Wang on Sunday said he was referring to business rivals, saying that “the most dangerous opponents are often unexpected ones”.

The original posting has been removed.

Meituan declined further comment.

Adding to investor concerns, the Shanghai Consumer Council said late on Monday that it had summoned Meituan and e-commerce firm Pinduoduo, accusing them of violating consumer rights. On Tuesday, Meituan shares tumbled 5.3% to a seven-month low. “I think mainland investors paid more attention to the poem, but international investors are more worried about the rising cost of employing riders of the company,” said Fred Wong, chief investment officer at Hong Kong-based eFusion Capital.

He was referring to social media criticism of Meituan and other industry players’ treatment of delivery riders, most of whom are not covered by basic social and medical insurance.

The Hang Seng Tech Index, which includes Chinese tech giants Alibaba, Tencent and JD.com, dropped as much as 4.5% on Tuesday to a six-month low.

(Reporting by Shanghai and Beijing newsrooms, Editing by Tony Munroe and Gabriela Baczynska)

Image Credit: Reuters

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Source: https://datafloq.com/read/meituan-shares-slump-fallout-ceos-poem-post-festers/14574

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Renault, Nissan looking for more savings on batteries – De Meo

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PARIS (Reuters) – French carmaker Renault and its Japanese alliance partner Nissan are in talks to collaborate more and improve the savings they can derive from using the same battery technology, Renault Chief Executive Luca de Meo said on Tuesday.

Batteries are one of the costliest aspects of developing electric cars, at a time when auto groups are racing to pull ahead in this segment. For Renault and Nissan, it has also long been one of the weaker points of a partnership stretching back over 20 years, with each sourcing batteries in different ways, including from South Korea’s LG for the French firm.

“If we manage to come up with a very synergetic approach on batteries, the alliance will probably be one of the first to cross the threshold of a million cars sold on the same battery module,” De Meo told a Financial Times car conference.

Collaborating on battery technology will be a big test of the future of the Renault-Nissan alliance, shaken by the 2018 arrest of its architect-turned-fugitive Carlos Ghosn, and which new managers at both firms are trying to get on track.

They face stiff competition from the likes of Volkswagen in the race to produce cleaner, electric vehicles at an appealing price for consumers. Their German rival is planning to build six battery factories in Europe alone by 2030.

De Meo said on Tuesday that Renault and Nissan were cooperating closely on production and sourcing components.

“We are making a lot of decisions to communalise things… battery modules for example is one of the things we’re discussing right now,” De Meo added.

Both firms are still straining to deliver on their own turnaround plans, and Nissan on Tuesday posted a record annual loss, triggered in part by the COVID-19 pandemic. That will drag on earnings at Renault, which has a stake in the firm.

Renault shares were down 4.8% at 0944GMT.

(Reporting by Gilles Guillaume and Sarah White, editing by Estelle Shirbon)

Image Credit: Reuters

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Source: https://datafloq.com/read/renault-nissan-looking-savings-batteries-de-meo/14573

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Renault, Nissan looking for more savings on batteries – De Meo

Avatar

Published

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PARIS (Reuters) – French carmaker Renault and its Japanese alliance partner Nissan are in talks to collaborate more and improve the savings they can derive from using the same battery technology, Renault Chief Executive Luca de Meo said on Tuesday.

Batteries are one of the costliest aspects of developing electric cars, at a time when auto groups are racing to pull ahead in this segment. For Renault and Nissan, it has also long been one of the weaker points of a partnership stretching back over 20 years, with each sourcing batteries in different ways, including from South Korea’s LG for the French firm.

“If we manage to come up with a very synergetic approach on batteries, the alliance will probably be one of the first to cross the threshold of a million cars sold on the same battery module,” De Meo told a Financial Times car conference.

Collaborating on battery technology will be a big test of the future of the Renault-Nissan alliance, shaken by the 2018 arrest of its architect-turned-fugitive Carlos Ghosn, and which new managers at both firms are trying to get on track.

They face stiff competition from the likes of Volkswagen in the race to produce cleaner, electric vehicles at an appealing price for consumers. Their German rival is planning to build six battery factories in Europe alone by 2030.

De Meo said on Tuesday that Renault and Nissan were cooperating closely on production and sourcing components.

“We are making a lot of decisions to communalise things… battery modules for example is one of the things we’re discussing right now,” De Meo added.

Both firms are still straining to deliver on their own turnaround plans, and Nissan on Tuesday posted a record annual loss, triggered in part by the COVID-19 pandemic. That will drag on earnings at Renault, which has a stake in the firm.

Renault shares were down 4.8% at 0944GMT.

(Reporting by Gilles Guillaume and Sarah White, editing by Estelle Shirbon)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/renault-nissan-looking-savings-batteries-de-meo/14573

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