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AI Engineering and solutions
AI Engineering and Solutions at Lifetime Group is built on ethical AI principles, and it follow the EU Artificial Intelligence Act (AI Act).
The EU Artificial Intelligence Act (AI Act) is a landmark regulation that sets out a comprehensive framework for the development, deployment, and use of artificial intelligence (AI) in the European Union. It is the first-ever comprehensive legal framework on AI worldwide and aims to foster trustworthy AI in Europe and beyond.
Key Objectives of the AI Act
Protect fundamental rights and safety
The AI Act prohibits the use of AI systems that are inherently discriminatory, unfair, or unsafe. It also requires AI systems to be designed and developed in a way that respects fundamental rights such as privacy, data protection, and non-discrimination.
Promote innovation and competitiveness
The AI Act aims to create a legal environment that encourages innovation and investment in AI while ensuring that AI systems are used responsibly. It does this by providing clear rules and guidance for developers and users of AI systems.
Ensure transparency and accountability
The AI Act requires AI systems to be transparent and accountable. This means that users should be able to understand how AI systems work and should be able to hold those who develop and deploy AI systems accountable for their actions.
Risk-Based Approach
The AI Act takes a risk-based approach to regulating AI, which means that the level of regulation that an AI system is subject to depends on the level of risk it poses. AI systems are classified into four risk categories:
1. Unacceptable risk: AI systems that pose an unacceptable risk, such as those that could cause serious harm or death, are prohibited.
2. High risk: AI systems that pose a high risk, such as those that are used in critical sectors such as healthcare, transportation, and finance, are subject to strict requirements.
3. Limited risk: AI systems that pose a limited risk, such as those that are used for entertainment or chatbots, are subject to less stringent requirements.
4. Minimal risk: AI systems that pose a minimal risk, such as those that are used for simple tasks such as spam filtering, are not subject to any specific requirements.
Enforcement
The AI Act will be enforced by national authorities in each EU member state. The European Commission will also have a role in overseeing the implementation of the Act and ensuring that it is applied consistently across the EU.
Impact of the AI Act
The AI Act is expected to have a significant impact on the development and use of AI in the EU. It is likely to lead to several changes, including:
1. Increased investment in AI research and development as the companies and organizations will need to invest in developing AI systems that meet the requirements of the AI Act.
2. Greater adoption of AI technologies: The AI Act is expected to lead to the wider adoption of AI technologies as businesses become more confident that they can comply with the requirements of the Act.
3. Increased focus on ethics and governance: The AI Act is likely to lead to a greater focus on ethics and governance in the development and use of AI.
Overall, the EU AI Act is a landmark piece of legislation that is likely to have a profound impact on the future of AI in Europe and beyond. Resources:
EU AI Act website: https://www.europarl.europa.eu/topics/en/article/20230601STO93804/eu-ai-act-first-regulation-on-artificial-intelligence
European Parliament briefing on the AI Act: https://www.europarl.europa.eu/news/en/press-room/20240308IPR19015/artificial-intelligence-act-meps-adopt-landmark-law
AI Now Institute report on the AI Act: https://ainowinstitute.org
The Responsible and ethical use of AI is rapidly changing working processes and enterprise roles.
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The Responsible and ethical use of AI is rapidly changing working processes and enterprise roles. 〰️
With the Responsible AI solutions implemented you can See, Understand, and Interact on the New Way. Our Advisors and Consultants you can trust are here to mentor your team. We too believe that responsible AI programs and practices afford business leaders a strategic and competitive advantage.
As a business leader, your responsible AI strategy needs a consistent set of ideas across transparency, fairness, accountability, and privacy (Google).
The business case of Responsible AI
the Economist Intelligence Unit’s report titled “Staying Ahead of the Curve. The Business Case for Responsible AI.” offer these seven outcomes:
Incorporating responsible AI practices is a smart investment in product development. Organizations that incorporate responsible AI practices early can reduce development costs and avoid downstream ethical breaches.
Responsible AI trailblazers attract and retain top talent. Employees are increasingly looking for employers who are committed to responsible AI.
The importance of safeguarding the promise of data. Organizations need to be transparent about how they collect, use, and protect data.
The importance of preparing in advance of AI regulation. Organizations that develop responsible AI can expect to experience a significant advantage when new regulations come into force.
Responsible AI can improve revenue growth. For AI vendors, responsible AI can result in a larger target market, a competitive advantage, and improved engagement with existing customers.
Responsible AI is powering up partnerships. Investors are increasingly looking to invest in companies that prioritize responsible AI.
Responsible AI can help organizations build trust and resilience. By incorporating responsible AI practices, organizations can build trust with their customers, employees, and other stakeholders.
A Task List of responsible AI
Data collection: Ensure that the data used to train AI models is representative of the population and does not contain any bias.
Model development: Use fair and transparent machine learning techniques to develop AI models that do not discriminate against any group of people.
Deployment: Ensure that AI models are deployed in a way that is safe and ethical.
Monitoring: Monitor AI models for bias and discrimination, and take action to mitigate any problems that are found.
Explainability: Make AI models explainable so that people can understand how they work and make informed decisions about their use.
Accountability: Hold those responsible for the development and use of AI accountable for their actions.
This list is not exhaustive, but it covers some of the most important responsible AI tasks. It is important to note that these tasks are not mutually exclusive. For example, data collection and model development are often done simultaneously.Here are some additional tips for ensuring responsible AI:
Involve stakeholders: Get input from a variety of stakeholders, including users, developers, and ethicists, to ensure that AI is developed and used in a way that is beneficial to everyone.
Be transparent: Be transparent about the data that is used to train AI models, the algorithms that are used to develop them, and the way that they are deployed.
Be accountable: Have a plan for how to address any problems that are found with AI models.
By following these tips, we can help to ensure that AI is used responsibly and ethically.
Yet, the climate change happens. We have set our Mission is to fight climate change, erosion and droughts through use of responsible technologies.
Business Case: "USE OF 5G we can connect to Car IoT data into our application that can do prediction, observability, and fine-tune the car. Further we can add built-in robot for checking tiers, plugin the EV cable, guarding the car, checking the road conditions; acting as service team."
It has been said that AI will soon ten fold the productivity of an employee. But this is only the beginning towards Superintelligence. Superintelligence has promises of 10,000 times more productive than a human. This is somewhere in 2050.
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It has been said that AI will soon ten fold the productivity of an employee. But this is only the beginning towards Superintelligence. Superintelligence has promises of 10,000 times more productive than a human. This is somewhere in 2050. 〰️
Lifetime Industrial Services
We help Industry transformation
Help our enterprise customers to transform from physical products only into digital solution based subscriptions.
From silos into ecosystems.
Carbon emissions reporting solutions consultancy
Here are some of the best carbon emission reporting solutions toward 2024. These solutions enable organizations to account for and report emissions from Scope 3 activities, which include indirect emissions that occur in the value chain outside of an organization's direct control. Scope 3 emissions can be significant and account for a large proportion of an organization's carbon footprint. Reporting on Scope 3 emissions is becoming increasingly important as sustainability reporting frameworks and standards, such as the GHG Protocol and the Science Based Targets initiative, emphasize the need for comprehensive emissions reporting.
Persefoni: Persefoni is a leading carbon accounting software that offers personalized support and real-time advice based on industry and region.
Microsoft Sustainability Cloud: Microsoft Sustainability Cloud provides reporting and analytics features, allowing organizations to establish frameworks for carbon reduction.
Net Zero Cloud by Salesforce: Net Zero Cloud offers emissions forecasting and simulations, making it a good choice for organizations looking to create action plans for carbon reduction.
IBM Carbon Emissions Management: IBM's software provides comprehensive carbon footprint tracking and supports scopes 1, 2, and 3 emissions measurements.
FigBytes: FigBytes is an emissions management software that offers real-time carbon emission monitoring, integrated carbon offset programs, and automation and AI-assisted data integration.
Sustain: Sustain is a carbon accounting platform that focuses on sustainability and offers detailed emissions calculations.
Normative: Normative styles itself as a carbon accounting engine and provides a comprehensive platform for carbon accounting
Greenly: Greenly offers tailored carbon emission reduction methods and helps companies measure their carbon dioxide emissions.
CarbonOps: CarbonOps software supports risk management, emissions monitoring, and automatic CO2 calculation.
Sweep: Sweep is a budget-friendly option for small and medium-sized enterprises (SMEs) and offers features like risk management and emission inventory..
It's important to note that the best carbon accounting software may vary depending on the specific needs and requirements of each organization. Contact us for evaluating solution that the Best fits your enterprise needs.
Custom Industrial Application Development
We specialize in building custom products and their teams based on project specifications.
Secure Managed Sourcing
Since every organization has unique requirements, we invest a what the organization’s needs are so that we can propose unique and innovative options for our clients.
Over the years, we have developed applications across a cross-section of business areas addressing real business development solutions and services.
From strategy into planning,
optimizing the cost with two-tier pricing.
Delivering advanced industry domain expertise,
reducing development cycles time,
streamlining processes with agile JIRA, SAFe.
Rapid demo, alpha, beta.
results better and faster ROI.
Our versatility with the usage of various development platforms gives us the edge over our competitors.
Lifetime™Digital Workspace 2.0 offers corporate customers 24/7 support from our Consultant base.
Consulting and advisory services
Guidance from experts on architecting in the AWS Cloud
Guidance from experts on architecting in the Private Cloud
Redhat OpenShift
IBM Cloud Pak for Data Projects
Amazon MSK is AWS managed Service for Apache Kafka.
AWS Ready Team is available for your projects. Book free opening discussion here.
Cloudsourcing for Industrial Cloud
Cloudsourcing is a similar trend to outsourcing where an organization outsources some or all of its business processes to a third-party vendor, except that in outsourcing, the company deploys, hosts and executes a complete or vertical IT solution onto a public or private cloud provider.
With the advent in cloud computing and the increasing flexibility of different products and services offered under this technology,
Lifetime Group provides cloudsourcing as a service solution, which breaks many of the previous barriers in terms of cost, platform interoperability and scalability.
With cloudsourcing, virtually every IT requirement can be sourced on a utility computing billing model with solutions ranging from raw computing power, storage, network, software or a comprehensive enterprise IT solution.
Cloudsourcing services are typically vertical, cloud-in-a-box solutions that are designed to fulfill a specific business segment's IT needs.
Lifetime™Digital Workspace 2.0 is a cloudsourcing platform for industrial cloud, a mobile application for Corporate Customers who wish to design, deliver, lead, manage, collaborate development projects using Lifetime Certified Partners project resources targeting the hybrid cloud edge.
