Ensuring the responsible development and deployment of AI is critical. Ayman Alashkar, Batu Sat, Aya Elgebeely, Nicoleta Remmlinger, and Miguel Lasprilla discussed the need for regulation frameworks, ethical considerations, transparency in credit risk modeling, and a unified approach to AI regulation across industries. Sign up for Step events https://stepconference.com/Subscribe now to the Step Feed newsletter for a daily roundup of the top tech business news https://subscribe.stepfeed.com/_____________________ HIGHLIGHTS (0:20) Introduction to AI Regulation Frameworks(03:30) The Patchwork of Existing AI Regulations and Risks of Loopholes(12:02) The Importance of Explainability and Transparency in AI Decision Making(15:04) Using AI in Credit Risk Modeling: A Practical Example(22:38) Proactively Building Technologies for Good _____________________ QUOTES "We need to embrace artificial intelligence, but we need to be responsible when we use it. We always have to think how that will impact someone's life and hopefully in good not in bad." “AI is nothing new, the LLM's and chat GPT might be sort of fancy, but algorithms and rule based prediction and prescription has been around.”"AI is the nuclear weapon of the 21st century." "Regulation should not be less tech, actually should be more tech to guard railing to take care of the people of their communities.""We need to know who is behind the outputs of the training... that is being used, potentially to our disadvantage.""Artificial intelligence has gripped everybody's interest. We don't give it enough attention, and frankly, because it's a problem so difficult to solve.""Having your own vector database, it's invaluable like having this on your own, and not necessarily relying on third parties who are totally out of your hand.""We built our own proprietary generative AI system a few years back end to end everything, including the process, we designed and built ourselves and that enables transparency and explainability." _____________________ If you’re enjoying this podcast, please subscribe to Step Podcast and leave us a review!Spotify → https://spoti.fi/3LIG8wjApple Podcasts → https://apple.co/3PxIXU5Anghami → https://bit.ly/3lDKxG4 

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