THEODORA LAU
Founder , Unconventional Ventures , a boutique consulting firm focused on innovation
Generate high-quality insights with a diverse team
Data is meaningless without insights . To be able to leverage the data , companies need people and processes to analyze the bits and bytes , identify what is useful and what is needed , and create actionable insights . And we need a team of interdisciplinary experts from different demographics , including gender , race , age , education , sexual orientation , etc ., to help us understand nuances with each data set .
Why is this important ? Because a nondiverse team selected images from a database and used these images to train multiple AI applications . Their unconscious biases determined the images they selected . Their biases , related to race , weight , gender , and more , then filtered through to the AI , which perpetuated them further , in the judgements it made based on the information it was fed .
While a flawed movie or book recommendation , due to biased data , might not seem harmful , the consequences of a flawed decision in finance and healthcare are far greater .
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Preparing for a data-driven world is no longer a nice-to-do side project but table stakes for any corporate strategy in this digital era . @ psb _ dc
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