
APAC demands more responsible and ethinic AI
CIO Review APAC | Sunday, February 28, 2021

According to Forrester, the utilization of real-time systems infused with AI will expand by 20 percent by 2022
FREMONT, CA: The usage of artificial intelligence (AI) in businesses has spread far and wide. Everything from virtual patient care at CVS to the development of Nestlé Nespresso's digital baristas is made possible by it. According to Forrester, the utilization of real-time systems infused with AI will expand by 20 percent by 2022, eliminating the latency between information, decisions, and outcomes.
As AI becomes the business's beating heart, a new demand for responsible and ethical AI emerges. Business leaders in analytics presented their AI journeys and the emerging concerns regarding bias AI in Asia at the recent Chief Digital Officer Hong Kong Summit. To grasp the problem of AI bias, one must first examine the adoption journey from data analytics to immersive AI.
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Utilization of data is a journey, said Adam Wielowieyski, managing director and head of data and analytics at HKEX, Hong Kong's market operator for equities, commodity, fixed income, and currencies trading. According to him, most businesses began monitoring transactional data in order to find trends and insights. Businesses began to make decisions based on the detected trends and patterns as data veracity and integrity increased. With time, one has greater trust in the data and the algorithms, and begins to believe the answers it provides, he explained. This was the point at which companies were able to achieve predictive status.
HKEX, according to Wielowieyski, is on a similar path. It analyses data from several trading platforms to spot trends and promote a fair and orderly market. It is beginning to leverage data to uncover new goods and commercial opportunities as data trust grows. The Hong Kong and China Gas Company (Towngas) is another local company that is expanding its use of data and AI. Queenie Chan, the company's general manager of business analytics and e-development, said AI helps with maintenance.
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