Australia’s First Ethical Artificial Intelligence Advisory Consulting Business Launches in Sydney
Announcement posted by Ethical AI Advisory 23 Apr 2020
Dr Catriona Wallace, one of the world’s leading Artificial Intelligence entrepreneurs and product innovators, will spearhead Ethical AI company growth
Sydney, 23 April, 2020 – Ethical AI Advisory, a first of its kind ethical artificial intelligence (AI) advisory consulting business, has launched in Sydney headed by Dr Catriona Wallace, one of the country’s leading entrepreneurs and product innovators in the burgeoning AI industry.
Ethical AI Advisory will support private and public companies develop ethical approaches to the design and deployment of AI, currently the fastest growing technology sector in the world, estimated to be worth US$38bn with a projected size of US$391bn by 2025 (Grandview Research, 2019). In addition, owing to the COVID-19 pandemic, it’s also expected that there will be a surge in interest in AI as a technology solution to support businesses enable home-based workers as well as other automations.
Ethical AI will provide advisory services to company boards, CEOs, executive and leadership teams on the design and development of frameworks and toolkits for ethical AI. In addition, the firm will offer education, coaching and mentoring services related to the development of team or individual’s AI capabilities.
“This rise in use of AI will bring some exceptional benefits, such as improved analytical capabilities, increased productivity, reduced cost and even increased customer experience. However, AI could also potentially do harm if not designed and deployed ethically,” says Dr Catriona Wallace, CEO and Founder, Ethical AI Advisory.
Despite the growth in AI, there are few laws and regulations that provide guidelines to developers, vendors or organisations deploying this emerging technology. As a result, organisations face considerable risks from the AI’s data, algorithms, decisions and actions that may be biased, discriminate or be erroneous. Indeed, Gartner (2019) noted that it is likely that 85 percent of all AI projects would have erroneous outcomes in the next two years.
Dr Wallace has worked closely with the Australian Human Rights Commissioner, Ed Santow and the Minister for Industry, Science and Technology, Karen Andrews, on developing frameworks and guidelines for organisations seeking to do Ethical AI. These guidelines were released in November 2019: https://www.industry.gov.au/news-media/towards-an-artificial-intelligence-ethics-framework
Dr Wallace stated, “Artificial Intelligence will bring benefits to businesses and individuals. However, there is also scope for it to be done without consideration or knowledge of the potential harm that AI can do. A pertinent example was the recent release of the Apple Card which was highly criticised for its algorithm providing vastly higher levels of credit to males than females with the same income. We have set up Ethical AI Advisory to assist organisations avoid these problems and use this powerful technology in an ethical way so as to optimise the benefits that AI will certainly bring.”
For more information please contact:
Dr Catriona Wallace
Email: catriona.wallace@ethicalai.ai
Tel: 0412 181 284
About Ethical AI Advisory
Ethical AI Advisory provides strategic advice to Boards, CEOs, executive teams and leaders in the private, public and community sectors on how to take an ethical approach to the development and deployment of Artificial Intelligence and other emerging technologies. Led by Dr Catriona Wallace, one of the world’s most cited experts and an experienced practitioner in Artificial Intelligence, the firm assists organisations, team and individuals:
Ethical AI Advisory will support private and public companies develop ethical approaches to the design and deployment of AI, currently the fastest growing technology sector in the world, estimated to be worth US$38bn with a projected size of US$391bn by 2025 (Grandview Research, 2019). In addition, owing to the COVID-19 pandemic, it’s also expected that there will be a surge in interest in AI as a technology solution to support businesses enable home-based workers as well as other automations.
Ethical AI will provide advisory services to company boards, CEOs, executive and leadership teams on the design and development of frameworks and toolkits for ethical AI. In addition, the firm will offer education, coaching and mentoring services related to the development of team or individual’s AI capabilities.
“This rise in use of AI will bring some exceptional benefits, such as improved analytical capabilities, increased productivity, reduced cost and even increased customer experience. However, AI could also potentially do harm if not designed and deployed ethically,” says Dr Catriona Wallace, CEO and Founder, Ethical AI Advisory.
Despite the growth in AI, there are few laws and regulations that provide guidelines to developers, vendors or organisations deploying this emerging technology. As a result, organisations face considerable risks from the AI’s data, algorithms, decisions and actions that may be biased, discriminate or be erroneous. Indeed, Gartner (2019) noted that it is likely that 85 percent of all AI projects would have erroneous outcomes in the next two years.
Dr Wallace has worked closely with the Australian Human Rights Commissioner, Ed Santow and the Minister for Industry, Science and Technology, Karen Andrews, on developing frameworks and guidelines for organisations seeking to do Ethical AI. These guidelines were released in November 2019: https://www.industry.gov.au/news-media/towards-an-artificial-intelligence-ethics-framework
Dr Wallace stated, “Artificial Intelligence will bring benefits to businesses and individuals. However, there is also scope for it to be done without consideration or knowledge of the potential harm that AI can do. A pertinent example was the recent release of the Apple Card which was highly criticised for its algorithm providing vastly higher levels of credit to males than females with the same income. We have set up Ethical AI Advisory to assist organisations avoid these problems and use this powerful technology in an ethical way so as to optimise the benefits that AI will certainly bring.”
For more information please contact:
Dr Catriona Wallace
Email: catriona.wallace@ethicalai.ai
Tel: 0412 181 284
About Ethical AI Advisory
Ethical AI Advisory provides strategic advice to Boards, CEOs, executive teams and leaders in the private, public and community sectors on how to take an ethical approach to the development and deployment of Artificial Intelligence and other emerging technologies. Led by Dr Catriona Wallace, one of the world’s most cited experts and an experienced practitioner in Artificial Intelligence, the firm assists organisations, team and individuals:
- Incorporate AI Ethics and Human Rights Frameworks into strategy and operations
- Deploy AI Ethics and Human Rights Tool Kits
- Develop awareness around data gaps in regard to diversity and inclusion
- Increase AI awareness and knowledge in leadership teams