RBI Deputy Governor flags AI risks in finance sector; AI reshapes sales: Professionals save over 2 hours daily, focus on human connections; Canadian health care workers embrace AI amid staffing crisis; Samsung’s AI-powered fridge generates recipes- this and more in our daily roundup. Let us take a look.
1. RBI Deputy Governor flags AI risks in finance sector
RBI Deputy Governor M Rajeshwar Rao expressed concerns about AI deployment in financial institutions, citing risks of data bias, governance challenges, and transparency issues. Speaking at a conference, he highlighted design-specific problems like biases and robustness, alongside traditional concerns such as data privacy and cybersecurity. According to a Business Standard report, Rao emphasised that AI inherits biases from training data, urging caution in deploying it. He also outlined governance challenges, anticipating the need for a reevaluation of frameworks for consumer protection and data privacy.
2. AI reshapes sales: Professionals save over 2 hours daily, focus on human connections
AI is revolutionising sales professionals’ daily routines, saving them over two hours and 15 minutes each day, according to a 2023 HubSpot study. The survey of 648 sales professionals and 303 business leaders in the US revealed AI’s impact on automating tasks like scheduling meetings, note-taking, and data entry. Sales teams reported substantial time savings in onboarding and coaching, allowing them to prioritise human-centric aspects of their job, such as connecting with customers and closing deals. Additionally, 31 percent of respondents utilised generative AI tools for creating sales content and outreach messages, Business Insider reported.
3. Canadian health care workers embrace AI amid staffing crisis
Canadian health care workers, facing a staffing crisis, turn to AI for support. St. Michael’s Hospital in Toronto employs CHARTWatch, an AI early-warning system, alerting Dr. Yuna Lee to a patient’s high-risk status. CHARTWatch’s analysis of patient data predicted an inflamed gallbladder before overt symptoms appeared, showcasing the effectiveness of machine learning in healthcare, with Dr. Lee expressed surprise and admiration for the AI’s capabilities, according to a THE GLOBE AND MAIL report.
4. Samsung’s AI-powered fridge generates recipes based on contents
Samsung’s 2024 Bespoke 4-Door Flex Refrigerator with AI Family Hub+1 employs AI Vision Inside, utilising image recognition and artificial intelligence to identify 33 types of fresh foods. The technology generates recipes based on the fridge’s contents, displayed on a 32-inch touchscreen. Moohyung Lee, EVP of Samsung Electronics, highlights the upgraded AI and connectivity features, aiming to enhance users’ food and kitchen experiences with innovative technology, Fox Business reported.
5. AI boom sparks copyright challenges: NYT sues OpenAI and Microsoft
The surge in AI tools drawing from online content is pushing the boundaries of copyright law. Authors, a photo agency, and now, the news industry, with The New York Times filing a lawsuit against OpenAI and Microsoft. The suit alleges copyright infringement, claiming ChatGPT and Bing Chat produce content resembling Times articles without permission. Unresolved, this issue may impact generative AI development and business models reliant on data, Business Standard reported.