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Strong words from investment firms about using facial recognition ethically

Strong words from investment firms about using facial recognition ethically

Categorization AI algorithms should be “avoided at all costs” by companies, according to almost two dozen industry investment firms that are monitoring facial recognition technology.

European asset manager Candriam, owned by New York Life Investments, and 20 other investors have updated their initiative examining the face biometrics industry. Candriam is a tortured acronym for Conviction and Responsibility In Asset Management.

Mincing words was not a priority for authors of the report.

Categorization algorithms “introduce too many potential discrimination and human right violations and should be avoided at all costs, according to a summary of the report’s findings.

Indeed, the investor group has “encouraged” vendors to “avoid” selling systems to law enforcement agencies until adequate regulation is in place.

And no one should wait for adequate regulation, either. The authors, reporting was the industry already knows well, advice vendors and buyers to “talk openly about the ethics” of AI. Those who do should be considered potentially a good business partner when it comes to facial recognition.

In another finding familiar in the industry, the report suggests executives create governance policies that address risks to human rights. They should also “publish a detailed human right policy with references to how it uses AI” and face biometrics.

Process identification and authentication should be the roles assigned to the systems in the near term, too.

The investor group held out three multinationals as examples of how to address human rights risk mitigation: Thales, Motorola Solutions and Microsoft. The transparency, explainability, and policies and features of Thales’ facial recognition system used for passport checks at Paris Charles de Gaulle Airport are commended.

Candriam, which leads the group, launched its facial recognition industry campaign in March 2021.

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