Author: AI Ireland

AI Ireland's mission is to increase the use of AI for the benefit of our society, our competitiveness, and for everyone living in Ireland.

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Generative AI

Getting Generative AI ready E01: Introduction featuring GlobalLogic & AWS

Welcome to episode one in a very special “Getting Generative AI Ready” series of the AI Ireland podcast, the show that explores the applications and research of Data Science, Machine Learning and Artificial Intelligence on the island of Ireland.

Our mission is to increase the use of AI for the benefit of our society, our competitiveness and everyone living in Ireland.

In the first episode of this five-part podcast series, we’re joined by Mark Dunleavy, Head of Commerical at AWS Ireland and Declan Fay, Head of Strategic Business Development & Ireland Country Lead at GlobalLogic.

In this podcast, Declan and Mark discuss the significance of the current era in data and AI, highlighting the rapid evolution of Generative AI. They emphasise the challenges organisations face in data transformation and the need for a shift from monolithic approaches to handling highly distributed data. 

The conversation stresses the importance of educating individuals about Generative AI and demystifying its origins, showcasing examples from companies like Amazon and Ryanair. 

Mark emphasises the incremental nature of the AI journey, with Generative AI being the latest manifestation. They discuss the vital role of a solid data strategy, emphasising that data transformation and AI adoption should be addressed in parallel. 

The importance of understanding regulations and ensuring compliance is also highlighted, with the recognition that innovation opportunities arise from effective data governance.

They conclude by emphasising the importance of organisations understanding their data and being ready for the opportunities presented by Generative AI. 

The series aims to provide actionable insights to help organisations navigate and leverage these advancements, addressing challenges such as data access entitlements and the alignment of data strategy with business strategy. 

Overall, the conversation emphasises the need for a comprehensive and strategic approach to data and AI to achieve successful outcomes.

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AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

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News

Balancing Innovation with Responsibility: The Evolving Role of AI in Finance

In the evolving landscape of the financial industry, the emergence of Generative AI has marked a significant milestone. Whilst this technology has gained notable attention, it constitutes just a fraction of the broader AI integration within the sector. The focus remains on harnessing AI’s capabilities responsibly and effectively.

Generative AI: A Growing Yet Limited Presence in Finance

A year since ChatGPT’s launch by OpenAI, Generative AI has indeed become a buzzword in the financial services sector. Despite its growing prominence, it remains a limited aspect of the industry’s wider AI adoption. This cautious approach is aligned with the sector’s commitment to responsible AI implementation.

The AI Summit NY Insights: Focus Beyond Generative AI

At The AI Summit NY, the finance track highlighted key areas beyond Generative AI. Emphasis was placed on using AI to enhance efficiency, combat bias and adhere to emerging regulations such as the EU AI Act. This indicates a balanced approach to AI’s potentials and pitfalls.

Addressing Bias in Lending: Lessons from Lloyd’s and Foresters Financial

The challenge of bias in AI-driven lending decisions was exemplified by the Apple Card incident. Dr. Paul Dongha of Lloyds Banking Group emphasised the integration of ethics throughout the data science lifecycle. Similarly, Mirka Snyder Caron of Foresters Financial discussed employing structured frameworks to manage AI’s data lifecycle, underscoring the importance of responsible AI deployment.

Mastercard’s Diverse AI Applications

Mastercard showcases AI’s multifaceted utility, employing it in areas ranging from fraud detection to vulnerability analysis. This diverse application spectrum demonstrates AI’s transformative impact in the financial domain.

AI Strategy: Balancing Innovation and Prudence

Leadership support and strategic implementation are crucial for AI’s success, as noted by Jessica Peretta of Mastercard. The emphasis on starting with manageable projects and scaling up reflects a prudent approach to AI adoption.

Distinguishing AI Types: Foundational and Traditional Models

AI’s diversity was highlighted by Rashida Richardson of Mastercard. She differentiated between traditional, specific-purpose AI models and foundational, general-purpose ones. This distinction is vital for addressing various risks and governance needs.

Generative AI: A New Breed in AI Evolution

The classification of Generative AI as a “new breed” rather than a “new species” by Mastercard’s Jessica Peretta encapsulates its innovative yet integrative nature within the AI ecosystem.

Internal Workflow Enhancement through Generative AI

Generative AI has revolutionised internal workflows, streamlining tasks across business analysis, compliance and content creation. Its versatility in language processing and content generation demonstrates its efficiency and cross-functional applicability.

External Product Enhancement via AI in Financial Services

AI’s role in data-driven financial services is profound, particularly in risk management and fraud detection. Machine Learning enables sophisticated pattern recognition, enhancing fintech product development and security measures.

Organisational Optimisation and AI’s Dual Role

AI’s contribution to financial services extends to organisational optimisation, balancing growth and cost-efficiency. However, balancing AI’s benefits with human workforce relevance remains a critical challenge.

The Unifying Factor: Predictability in AI Applications

The common thread across AI applications is predictability. Leveraging voluminous data, AI models can forecast outcomes, provided there’s careful management of data sources to avoid proprietary data mix-ups.

Mark Kelly, Founder at AI Ireland values Generative AI in finance, emphasising ethical integration for sustainable, globally trusted financial practices.

“As the founder of AI Ireland, I recognise the profound implications of Generative AI in the financial sector. However, it’s important to remember that it’s just one aspect of a much larger AI ecosystem. The industry’s commitment to responsible AI integration, as seen through initiatives like the EU AI Act and the proactive steps taken to combat bias in AI-driven decisions, is commendable. 

“This balanced approach—prioritising ethics and efficiency—is not just about harnessing technology, but about shaping a future where AI supports sustainable and equitable financial practices. It’s this thoughtful integration of AI that will truly drive innovation and trust in the financial industry, both in Ireland and globally.”

In summary, whilst Generative AI has become a focal point in financial services, the industry is navigating its adoption with a broader, more responsible perspective. This includes tackling ethical challenges, leveraging AI for diverse functions, and maintaining a strategic balance in AI implementation. The future of AI in finance hinges on this multifaceted, cautious, yet innovative approach.

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AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

Don’t miss the chance to enlighten your team and explore how innovation is positively impacting your industry. Secure your presentation now!

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News

EU AI Act Final Draft: Navigating the AI Act’s Impact on Organisations

The unveiling of the final text of the AI Act marks a pivotal moment in the regulatory landscape for Artificial Intelligence. With the Act swiftly progressing, organisations need to promptly adapt their AI strategies to meet the new legal and ethical standards.

In this article, AI Ireland delve into the critical aspects of the AI Act, highlighting recent significant changes and offering strategic insights to ensure organisations are both compliant and successful in the evolving AI environment.

Prohibited AI Systems

The final text of the AI Act prohibits various AI practices to safeguard against manipulation and harm. Noteworthy prohibitions include the use of AI systems employing subliminal techniques or exploiting vulnerabilities based on age, disability or social situations. 

Additionally, biometric categorisation systems inferring sensitive information and real-time remote biometric identification in public spaces for law enforcement are restricted. The Act also addresses concerns related to profiling and the creation of facial recognition databases through untargeted scraping.

High-Risk AI Systems

A significant change in the final text is the classification of AI systems as high-risk based on specific criteria, with a particular emphasis on profiling natural persons. Providers must undergo an AI Impact Assessment and register their systems in the EU database. Notably, the Act applies not only to providers placing AI systems on the market but also to deployers of general-purpose AI models, regardless of their location.

General Purpose AI

The AI Act introduces General Purpose AI models (GPAI models) as a new addition, defining them as models displaying significant generality and capable of performing a wide range of tasks. Notably, the Act exempts AI models used for research and development activities before market release. GPAI models, especially those with systemic risk, are subject to specific obligations, including standardised evaluations, risk assessments, and cooperation with authorities.

Deep Fakes

In the context of elections and beyond, the Act addresses deep fakes, requiring disclosure when an AI system generates or manipulates image, audio or video content. Notably, exemptions exist for authorised law enforcement use and artistic, creative, satirical or fictional works.

Human Oversight and Employer Obligations

The Act emphasises the importance of human oversight proportional to the risks and autonomy of AI systems. Employers deploying high-risk AI systems must inform workers and their representatives, aligning with EU and national laws and practices.

Codes of Practice

The AI Office plays a pivotal role in developing codes of practice to support the AI Act’s application. Involving various stakeholders, including AI model providers, the codes aim to ensure compliance with specific articles, focusing on key performance indicators and the interests of relevant parties.

Testing AI Systems

The AI Act’s final draft outlines conditions for testing high-risk AI systems outside regulatory sandboxes, emphasising ethical guidelines, informed consent and liability for damages caused during testing. SMEs and startups are given priority access to regulatory sandboxes.

Third-Party Agreements and Technical Documentation

Providers of high-risk AI systems must have written agreements with third parties, similar to GDPR obligations. Technical documentation requirements differ for SMEs and startups, providing a simplified submission process.

Fines and Timelines

Non-compliance with the AI Act incurs fines based on the severity of violations. The Act becomes applicable to prohibited systems in six months, GPAI models in 12 months and high-risk AI systems in 36 months.

Strategic Steps for Organisations

Organisations must proactively align their AI systems with the AI Act’s ethical and legal standards. Key steps include rigorous evaluations, robust documentation, disclosure measures for AI-generated content, investment in human oversight, transparent communication with employees, meticulous data governance, preparation for compliance costs, staying informed and strategic planning for timelines.

Mark Kelly, Founder at AI Ireland said the AI Act signifies a crucial shift towards responsible AI governance, urging organisations to embrace ethical AI aligned with societal value.

“I welcome the final text of the AI Act as a significant stride towards responsible AI governance. This Act represents a pivotal shift in our approach to AI, blending legal compliance with ethical responsibility, ” he said.

“It is vital for organisations to recognise that this is not just about meeting regulatory requirements but about embracing a culture of ethical AI use that aligns with our societal values. The Act’s emphasis on prohibited and high-risk AI systems, along with the introduction of general-purpose AI models and provisions on deep fakes, underscores the need for a comprehensive and forward-thinking AI strategy. 

“Organisations must act swiftly and strategically to adapt, ensuring their AI systems are not only compliant but also ethically aligned and socially responsible. This is an opportunity for businesses to lead in the era of AI by championing transparency, accountability, and human-centric AI practices.” 

The AI Act presents a paradigm shift in the regulatory landscape, requiring organizations to navigate multifaceted challenges and opportunities. By embracing a proactive approach, organisations can ensure compliance, maintain ethical standards and position themselves for success in the dynamic AI-driven regulatory environment. As the Act shapes the future of AI governance, strategic adaptation becomes imperative for organisations to thrive in this new era.

AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

Don’t miss the chance to enlighten your team and explore how innovation is positively impacting your industry. Secure your presentation now!

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News

Ireland’s AI Advisory Council Convenes for the First Time

This past Wednesday, January 17th 2024, marked a pivotal moment in Ireland’s journey towards the integration and ethical application of Artificial Intelligence. 

The Government’s AI Advisory Council convened for its inaugural meeting, embarking on a mission to steer the nation’s AI policy with a human-centric and trustworthy approach.

Established to offer independent expert advice, the council is set to play a crucial role in shaping the future of AI in Ireland. It aims to build public trust and promote the development of AI solutions that are centered around people’s needs and well-being.

Roles and Responsibilities of the AI Advisory Council

The council’s primary role involves providing expert guidance, insights and recommendations to the Government on specific AI-related matters. In addition, the council will develop and deliver its own workplan, offering advice on various aspects of AI policy.

Diverse Expertise on the Council

Comprising members from diverse fields such as academia, business, law, security, social sciences, economics and civil society, the council offers a rich tapestry of perspectives. These members were carefully selected by the Government following a public call for expressions of interest and they serve in a voluntary capacity, meeting a minimum of three times a year.

Government’s Vision for AI

Minister of State for Trade Promotion, Digital and Company Regulation, Dara Calleary, expressed his ambition for Ireland to lead in the use of AI. “Our goal is to benefit our people through a human-centered and ethical approach to AI adoption and use,” he stated. This highlighted the foundational elements present in our National AI Strategy.

Dr. Patricia Scanlon’s Leadership

Dr. Patricia Scanlon, Ireland’s AI Ambassador since 2022, takes the helm as the chair of the AI Advisory Council. “I am excited to guide the council in offering timely, impactful recommendations and advice to the Government,” said Dr. Scanlon. Her leadership is expected to bring a strategic focus to the council’s efforts, particularly in demystifying AI technology and providing foresight on emerging trends and challenges.

Mark Kelly, Founder of AI Ireland commented on the development stating: “As the founder of AI Ireland, I applaud the establishment of the Government’s AI Advisory Council. The diverse backgrounds of the council members promise a comprehensive approach to AI policy. This initiative aligns perfectly with our ethos at AI Ireland, advocating for a human-centred and ethical application of AI. 

“The council’s focus on building public trust and formulating person-centred AI policies is crucial for sustainable and beneficial AI adoption. Under Dr. Patricia Scanlon’s leadership, the council will provide invaluable guidance, ensuring Ireland’s position as a leader in ethical AI usage. Their work will undoubtedly contribute to the responsible and innovative growth of AI in Ireland, benefiting our society and economy alike.”

This inaugural meeting of the AI Advisory Council is a significant step towards harnessing AI for the common good. AI Ireland eagerly anticipates the council’s contributions to the nation’s AI strategy and policies.

Interested in being trained in AI? Find out more about our AI in public sector training here.

 

AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

Don’t miss the chance to enlighten your team and explore how innovation is positively impacting your industry. Secure your presentation now!

featured image credited to rte.ie

Categories
News

UCD Launches Innovative AI Accelerator Programme for Startups

University College Dublin has unveiled an exciting opportunity for startups with the announcement of a new Artificial Intelligence accelerator programme. 

The six-month initiative, set to commence in April 2024, is a collaborative effort between NovaUCD, UCD’s center for innovation and startup activities, and CeADAR, Ireland’s National Centre for Applied AI.

The primary focus of this accelerator program is to provide comprehensive support to entrepreneurs engaged in the development of AI solutions across various sectors, including healthcare, cybersecurity, education, sustainability, finance, content creation, supply chain and customer service, catering to a global market.

Participants in the programme can expect a range of valuable support, including access to a dedicated commercial mentor and workshops covering essential topics such as value proposition, route to market, sales strategies and securing investment.

This initiative is made possible through funding from the European Digital Innovation Hubs (EDIH) framework, a Europe-wide initiative with substantial financial backing of €700 million from both the European Commission and the governments of member states.

Minister of State for Trade Promotion, Digital, and Company Regulation, Dara Calleary, officially announced the launch of this transformative programme in the past week.

“The AI Ecosystem Accelerator programme, positioned at the intersection of higher education, industry, and research, aims to propel AI start-ups forward by providing dedicated technical and commercial supports,” he said.

Tom Flanagan, the Director of Enterprise and Commercialisation at UCD, expressed enthusiasm for the new programme, emphasising its role in showcasing and supporting the most advanced AI startups in Ireland.

“We are actively seeking applications from Irish-based start-ups with innovative AI-based products or services, inviting them to join an ecosystem that fosters the success of the most promising entrepreneurs in Ireland utilising AI,” he said.

AI Ireland Founder Mark Kelly also stated that the programme is a testament to the great work being done by AI startups throughout the island of Ireland and will only pave the way for more innovation.

“UCD’s AI accelerator program is a testament to the transformative power of innovation”, he said. “By nurturing AI startups, it paves the way for groundbreaking solutions that will shape the future of diverse industries.”

This initiative marks a significant step forward in nurturing and promoting the growth of AI-driven enterprises, leveraging the unique strengths of UCD’s innovation hub and CeADAR’s expertise in applied AI. 

As the programme gears up for its launch in April, it presents a compelling opportunity for aspiring AI entrepreneurs to make their mark in a dynamic global market.

AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

Don’t miss the chance to enlighten your team and explore how innovation is positively impacting your industry. Secure your presentation now!

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Sustainability

E134 Puravee Bhattacharya, Data Product Owner – Group Data Office at Energia

Welcome to episode E134 of the AI Ireland podcast, the show that explores the applications and research of Data Science, Machine Learning and Artificial Intelligence on the island of Ireland.

Our mission is to increase the use of AI for the benefit of our society, our competitiveness and everyone living in Ireland.

Today’s guest is Puravee Bhattacharya, Data Product Owner – Group Data Office at Energia. Energia is the longest supplier of 100% green electricity on the island of Ireland. They are engaged in a wide range of projects including bio-energy, energy storage and solar energy. Through strategic initiatives and investments, Energia are decisively addressing the challenges of energy provision in a world that is grappling with climate change. 

Puravee is a Data and Analytics professional with 10 years of Product and Consulting experience in advisory, regulatory and investigatory roles within the Data Science landscape. She has a track-record of delivering large-scale Project and Program Management in Business Intelligence, Business Transformation, Technology enablement and Regulatory driven change/implementation projects.

Topics include:

  • An overview of her role with Energia
  • The energy sector’s shift to renewables, sustainability and traceability
  • How Data drives efficiency in sustainable energy transition
  • Adaptability in tech, reskilling and data accessibility
  • A Consumer-led sustainable energy shift via decentralisation and digitalisation
  • How Smart meters enable informed consumption for efficient energy use
Subscribe to the AI Ireland Podcast

AI Unleashed: Navigating the AI Revolution

Accessible for purchase on Amazon, AI Ireland’s latest book “AI Unleashed: Navigating the AI Revolution,” is your must read for 2024. For executives, policy architects or technology aficionados seeking to make sense of the intricate world of AI, “AI Unleashed: Navigating the AI Revolution” is your essential handbook. Available on Amazon Kindle or hard copy, this book furnishes you with the expertise and instruments required to employ AI both effectively and ethically.

Book an AI Presentation with AI Ireland today

Discover tailored presentations designed to meet the unique needs of your industry. Gain invaluable insights into the transformative power of AI technologies, ensuring your organisation stays ahead of the curve. Equip your team and stakeholders with the knowledge they need to confidently embrace the future.

Don’t miss the chance to enlighten your team and explore how innovation is positively impacting your industry. Secure your presentation now!