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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

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

Blockchain

Bitcoin dominance is an irrelevant metric unless…

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The volatile cryptocurrency market has given way to multiple metrics for the market observers to analyze and predict what’s coming next. One such metric has been Bitcoin dominance, but as per Su Zhu, it should not be relevant to you unless you are a billionaire.

How so?

The CEO of Three Arrows Capital opined this after noticing the trend of the newcomers avoiding Bitcoin and Ethereum and opting for risky crypto tokens. When the largest digital asset was stuck in a wider correction period, altcoins like Dogecoin [DOGE] grabbed much attention. This was possible due to the hype created by Tesla CEO or, self-proclaimed “doge-father,” Elon Musk and the Doge community.

However, understanding the newcomers’ enthusiasm Zhu opined that if he were to bet on projects now, he would choose Solana and Avalanche.

Despite the popularity of altcoins, the exec remained bullish on Bitcoin and Ethereum as he expected, the former to flip gold’s market cap, and the latter to eventually hit a value above $25,000. Bold predictions, but nothing we haven’t heard before.

However, newcomers were more bothered about the dominance metric but as data suggested, Bitcoin dominance has recently been falling. The dominance was hit earlier but recovered to form a peak at 49.25% on 30th July. But given the correction phase that followed, the dominance of BTC fell and was last noted to be at 40% on 10th September.

It is interesting to note that despite plenty of adoption related news such as that of El Salvador, coming in over the past few weeks, it looks like the dominance has remained unaffected by it.

Source: CoinMarketCap

Twitter user and crypto enthusiast, @HsakaTrades also noted that Bitcoin dominance was not a relevant metric for anyone who has a “sub mid 9fig portfolio]. Agreeing with Hasaka, Zhu added,

“To clarify, if you’re holding for 5+ yrs, you shouldn’t be thinking about btc dominance in the first place. And obv btc and eth have a strong place in that portfolio.

If you’re allocating actively atm, and think debating btc v eth v alts is a good framework, you’re ngmi.”

While this advice could stand true for experiences, long-term trader interested in making money, but not the ones looking out to invest in tech. This was especially highlighted in the comments wherein the crypto users were upset about the CEO’s Solana [SOL] recommendation that recently witnessed an outage.

Nevertheless, the trading advice and strategies differd from trader to trader and Zhu’s opinion to not focus on the BTC dominance, prebably stemmed from a hodlers perspective. While interesting projects were now erupting in the crypto space, it looks like Bitcoin’s dominance, not only in terms of price, but as a crypto project could be challenge.

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Source: https://ambcrypto.com/bitcoin-dominance-irrelevant-for-anyone-not-10figs

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Blockchain

Millions of Dollars Raised Through Solana’s DeFi Projects

Millions of Dollars Raised Through Solana's DeFi Projects

PAI, an algorithmic stablecoin, backs Parrot Protocol. Grape Protocol was the primary source of the downtime. Solana has been up

The post has appeared first on thenewscrypto.com

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  • PAI, an algorithmic stablecoin, backs Parrot Protocol.
  • Grape Protocol was the primary source of the downtime.

Solana has been up nearly 3200% since August. Investors’ interest in Ethereum rival systems featuring DeFi, NFT, and smart contract services has risen dramatically.

The software applications that simulate legal contracts are smart contracts. Once housed on a blockchain network, the software application will run automatically without human intervention.

This month, Solana’s DeFi initiatives raised millions of dollars. This is another proof of Solana’s potential to compete with Ethereum. Currently, Ethereum has the most DeFi and NFT projects.

Bots raced to invest in a token sale for Grape Protocol over flooded the blockchain, causing Solana to collapse for 17 hours on Tuesday. Let us take a look at the few IDO that helped raise millions.

Grape Protocol

Grape Protocol, the primary source of the downtime, managed to raise just $600,000 on Raydium’s “Acceleraytor.”

Tokenized communities may use Grape Network to connect to platforms like Discord, Telegram, and soon twitter to collaborate over Solana and reward members with crypto.

Parrot Protocol

Parrot Protocol is based on Solana. Investors in the Initial DEX offering included Sino Global Capital, Alameda Research, and QTUM VC. Moreover, to put it simply, Parrot is a non-custodial lending platform and decentralized exchange.

PAI, an algorithmic stablecoin, backs Parrot. Furthermore, Parrot offered a governance token called PRT in its IDO. Thus, allowing investors to vote on the protocol’s operation and farm yields on Solana without affecting other Layer 1 blockchains.

Solana’s failure impacted Parrot’s IDO, but it was resolved by Sept. 16. Moreover, the team said it would start working on PRT staking, NFTs, and adjustable interest rates in “Letter from the Parrot.”

Several Solana initiatives will be launched in the next day’s/weeks. Examples include Solanium, Boca Chica, and Solstarter. On Solanium, whitelisted users may buy MatrixETF.

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Source: https://thenewscrypto.com/millions-of-dollars-raised-through-solanas-defi-projects/

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Cosmos (ATOM) Lead Market-Wide Rally

Cosmos (ATOM) Lead Market-Wide Rally

Cosmos’ creators call it an “internet of blockchains.” ATOM also launched a bridge to Ethereum at the end of August.

The post has appeared first on thenewscrypto.com

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  • Cosmos’ creators call it an “internet of blockchains.”
  • ATOM also launched a bridge to Ethereum at the end of August.

Cosmos (ATOM) blew up 10.74 percent overnight to establish a new price of $39.58, according to CoinMarketCap. It surpassed $40 yesterday, reaching $40.76. Despite today’s minor decline, Cosmos’ price was still ten dollars more than seven days ago, and twenty dollars higher than this time last month.

Its creators call it an “internet of blockchains.” It’s an interoperability network that allows various blockchains to connect, exchange data, and interact with one another.

In short, Cosmos claims to address some of the “hardest problems” in the blockchain sector. It seeks to provide an alternative to “slow, costly, unscalable, and ecologically harmful” proof-of-work protocols like Bitcoin by connecting blockchains. On August 18, Cosmos rose 25% from $15 to $20 after the introduction of Emeris, a cross-chain DeFi interface.

It also launched a bridge to Ethereum at the end of August. The inter-blockchain communication protocol (IBC) allowed trade across the Cosmos and Ethereum networks for the first time, along with the integration of Sifchain.

Cosmos Might Soon Over Take FTX Token

Cosmos is “Blockchain 3.0” — thus, as previously said, ease of usage is a significant objective. To this aim, the Cosmos SDK emphasizes modularity. This enables a network to be created quickly using existing code. Long term, it is anticipated that sophisticated applications would be simple to build.

Cosmos now has the twenty-first largest market value, but at this pace, it would only take $0.8 billion to flip FTX Token and make a bold entry into the top twenty.

Some in the crypto sector, much worried about the amount of fragmentation in blockchain networks. There are hundreds, yet few can converse. Cosmos wants to change this by making it feasible.

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Source: https://thenewscrypto.com/cosmos-atom-lead-market-wide-rally/

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