The BIIA Newsletter November I – 2023 Issue is posted on the BIIA website. To download the document, please click on this link: BIIA Newsletter November I – 2023 Issue
The topic of Generative AI is still making front pages and we at BIIA have not been idle either. We are pleased to report that last week our first Leadership Forum with the title “Generative AI in the Crosshairs of Information Providers” was a great success with 50 members attending. Further information will be available in due course.
Preceding our event Elon Musk launched his AI Chatbot ‘Grok.’ An AI chatbot that can supposedly outperform OpenAI’s first iteration of ChatGPT in several academic tests. The motivation behind building Grok is to create AI tools equipped to assist humanity by empowering research and innovation, Musk and xAI explained in a Nov. 5 X (formerly Twitter) post.
In the UK the first global Generative AI safety conference ended with the UK government issuing a first policy document. According to the British government’s Safety and Security Risks of Generative Artificial Intelligence to 2025 Report, AI . The risks fall into at least three overlapping domains:
- Digital risks are assessed to be the most likely and have the highest impact to 2025. Threats include cybercrime and hacking. Generative AI will also improve digital defences to these threats.
- Risks to political systems and societies will increase in likelihood to 2025, becoming as significant as digital risks as generative AI develops and adoption widens. Threats include manipulation and deception of populations.
- Physical risks will likely rise as generative AI becomes embedded into more physical systems, including critical infrastructure and the built environment. If implemented without adequate safety and security controls, AI may introduce new risks of failure and vulnerabilities to attack.
The comforting part for our industry is that first priority will deal with threats to include cybercrime and hacking, meaning fraud. Online fraud is rampant, a war that cannot be won by the information industry alone. Tougher legislation and enforcement is needed.
In this newsletter you will find the following topics:
Late Breaking News:
- BIIA Leadership Forum “Generative AI in the Crosshairs of Information Providers“
- BIIA Mourns the Death of a Friend and Supporter: Tony Lithgoe
- Comparisons of Quarterly Revenue Growth Rates – Third Quarter 2023
- GBG Promotes Dev Dhiman to Chief Executive Designate
- The AI Dilemma: Regulate, Monopolize, Or Liberate
- UK Publishes First Policy Document on Generative AI Safety
- Rubix Data Sciences Private Limited Received ETBFSI Exceller Award 2023
- CRIF Gulf and Fauree Announce Partnership
- Creditinfo’s Account Information Service Product – Cross-Baltic Product Portfolio
- LexisNexis Risk Solutions and IMS Collaborate to Offer IMS Customers Consistent Driving Scoring at Point of Quote and for Ongoing Driver Monitoring
- LexisNexis Risk Solutions Wins Datos Insights AML Impact Award for its Financial Crime Screening Solution
- FICO Q4 2023 Revenue Up 8.8% (Fiscal 2023)
- CoreLogic Unveils Integrated Digital Mortgage Platform
- Moody’s Creates New Private Credit Analytical Franchise
- Dun & Bradstreet Q3 2023 Revenue up 4.8% (Constant Currency)
- Dun & Bradstreet and Databricks Launch New DUNSified™ Data Marketplace
- Supply Chain Worries Still Dominate in Manufacturing
News from China:
- China Business Climate: A New Generation of Private Business Owners Takes Over
Credit Bureau News:
- TransUnion Report Shows Fraud Attacks on Financial Industry Call Centers Rising
- Equifax Alternative Data Continues to Help Reshape Car Buying for Consumers
- The National Credit Bureau (NCB) of Thailand Sounds Alarm on Bad Loans
We thank our members for their contributions to this newsletter and their financial support.