BIIA Newsletter November I – 2023 Issue | BIIA.com | Business Information Industry Association

Dear Members,

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

Member News:

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

Industry News: