“Algorithms are not biased; data is biased” – MWC 2019
March 07, 2019
Beth Kindig
Lead Tech Analyst
Last week at MWC in Barcelona, the session panels focused on the hottest topics in mobile, such as 5G, artificial intelligence and blockchain. The more controversial panels discussed the bias found in data, and how that data goes onto inform algorithms, which results in unethical conclusions. Speakers and panelists pointed out the racial bias in prison sentencing, gender bias in mortgage loans, financial institutions, age-related bias that occurs during job recruitment, and pre-existing conditions in health care coverage.
Danny Guillory, the head of global diversity and inclusion at AutoDesk told Fortune Magazine that by running a search for a professional social network for social engineers, the results were primarily Caucasian men. Guillory pointed out that when you engage or ask for more results, the AI delivers candidates with similar attributes – more Caucasian men. Another example of AI bias is the notorious Microsoft’s Tay AI, when released on Twitter back in March of 2016, the AI quickly became misogynist and racist on social media within a staggering 24 hours.
AI may seem like an auxiliary technology to how we live our daily lives today, however, it will soon be the primary driver across the tech industry. PricewaterhouseCoopers estimates the world economy will reach an additional 15.7 trillion in value by 2030 due to artificial intelligence. To put this into perspective, the top 5 technology companies today have a combined value of about $4 trillion, which includes Apple, Amazon, Microsoft, Google and Facebook. The annual global technology spend is similar – about $3 trillion. Over the next decade, AI will drive a market 5x the size of tech’s current global spend.
Although this growth is exciting on many levels, the panelists at MWC 2019 voiced concerns about the handling of inherent biases that comes from data, as clearly discrimination by age, race, gender, education or other factors within audience segmentation is counterproductive to the advancement of society that AI promises.
My newsletter subscribers get this information first. Sign up here.
AI algorithms are responsible for making consequential decisions and are trained to find lookalikes or other markers to learn patterns. Some argue that the bias occurs when the computer system reflects the humans who designed it. Proven downsides to artificial intelligence have surfaced in recent years, for instance with fake news allegedly influenced the 2016 Presidential election. These accusations are proof that we have run out of time in addressing these concerns, especially as we near the precipice of a much larger, multi-trillion-dollar AI market.
Provided there is more diversity within the field of artificial intelligence, many of the panelists asked who should regulate the infractions of algorithmic bias – governments or markets? Many felt there should be an international community to establish guidelines for AI. But even then, will the lower classes be invited or what level of inclusivity will an international community realistically provide for, as the world’s most vulnerable and marginalized people are unlikely to be represented. In this way, AI could further the gap between lower class and upper class along socioeconomic lines, if it hasn’t done so already as AI is currently in use by the largest financial funds in capital markets.
The unanimous solution among the panelists and speakers was to broaden the conversation and not limit artificial intelligence jobs only to technical experts. “Requiring someone to know Python in order to work with AI is not democratizing AI,” one panelist pointed out. Along these lines, a more human centric approach is necessary.
Gains of up to 2,330% from our Free Newsletter.
Here are sample stock gains from the I/O Fund’s newsletter --- produced weekly and all for free!
2,330% on Nvidia
810% on Bitcoin
*as of Feb 03, 2025
Our newsletter provides an edge in the world’s most valuable industry – technology. Due to the enormous gains from this particular industry, we think it’s essential that every stock investor have a credible source who specializes in tech. Subscribe for Free Weekly Analysis on the Best Tech Stocks.
If you are a more serious investor, we have a premium service that offers lower entries and real-time trade alerts. Sample returns on the premium site include 3,660% on Nvidia, 1,490% on Chainlink, and 1,220% on Bitcoin. The I/O Fund is audited annually to prove it’s one of the best-performing Funds on the market, with returns that beat Wall Street funds.
Get a bonus for subscription!
Subscribe to our free weekly stock
analysis and receive the "AI Stock: 5
Things Nobody is Telling you" brochure
for free.
More To Explore
Newsletter
Nvidia Suppliers Send Mixed Signals for Delays on GB200 Systems – What It Means for NVDA Stock
Key Nvidia suppliers are providing mixed guidance on the timing of Nvidia’s Blackwell GB200 systems. The commentary is subtle, and it would require knowing this stock thoroughly to identify the change
Encouraging Growth in Key Metrics Drives 60% Gain YTD for Cloudflare Stock
Cloudflare shares spiked last week following Q4 earnings despite an underwhelming Q1 and 2025 guide that came in slightly below expectations, as multiple key metrics supported management’s commentary
Palantir Stock Sets Path Towards 40% Growth
Palantir’s Q4 report exceeded expectations, driving shares past the $100 mark with a massive beat and raise. The launch of AIP just six quarters ago has fueled a remarkable 23-point revenue accelerati
DeepSeek Creates Buying Opportunity for Nvidia Stock
DeepSeek shook the market to start the week, sending AI heavyweight Nvidia down 17% on Monday, wiping out $600 billion in market cap, while other AI hardware names fell up to 30%. This is enough to ma
Big Tech AI Stocks to Showcase AI Gains, Capex in Q4 Reports
Big Tech’s earnings are just around the corner, with Microsoft and Meta kicking the season off on January 29th. The upcoming December quarter reports will offer a glimpse into AI spending trends to cl
Why Solana is Outperforming Ethereum by 26,500% Since 2020
Ethereum has long been the frontrunner in decentralized apps (dApps) and blockchain innovation, but its scalability challenges have left the door open for competitors like Solana. Launched in March 20
The Best of I/O Fund’s Free Newsletter in 2024
The Best of I/O Fund’s Free Newsletter in 2024 highlights top-performing tech stocks, Bitcoin insights, and AI-driven market trends. Discover how I/O Fund delivered unparalleled analysis on Nvidia, Bi
Five Top Tech Stocks Of 2024: Year In Review
Below, I review five of the top stocks of 2024, selected based on their price action, fundamentals and presence withing leading tech themes. Choosing a top 5 means many great stocks were left off this
Where I Plan To Buy Nvidia Stock Next
The I/O Fund is tracking multiple supply chain signals indicating Blackwell sales will likely far exceed the GPU sales we saw in 2023 and 2024 combined – to the tune of bringing Nvidia to $200 billion
This Is Not Broadcom’s ‘Nvidia Moment’ Yet
Broadcom’s stock surged 35% in two days despite a mediocre Q4, as management offered investors a picturesque addressable market forecast for 2027. Q4 was not the blowout report the market made it out