Technology
Women in AI: MP Dar’shun Kendrick wants to pass more AI legislation
To give women AI academics and others their well-deserved – and overdue – time in the highlight, TechCrunch is publishing a series of interviews specializing in the extraordinary women who’re contributing to the AI revolution. We’re publishing these articles all year long because the AI boom continues, highlighting key work that usually goes unnoticed. Read more profiles here.
Dar’shun Kendrick is Member positions of the Georgia House of Representatives she has been chosen in 2010 she was 27 years old. She has an intensive profession in policy, equal opportunity and technology, including on the Committee on Small Business Development and Job Creation and the Committee on Technology and Infrastructure, where she is involved in the Subcommittee on Artificial Intelligence. She also worked with the National Black Caucus of State Legislators, the Telecommunications, Science and Technology Committee, and in 2019 created the primary bipartisan Technology, Innovation and Entrepreneurship Caucus in the Georgia House of Representatives.
Kendrick attended Oglethorpe University and received her law degree from the University of Georgia School of Law. She is a lawyer and in 2017 it was opened law firm and investment consulting to help women and black founders learn more about raising capital.
Briefly speaking, how did you start in artificial intelligence? What drew you to the sphere?
I began my adventure with artificial intelligence with a broad interest in technology. I’m a securities lawyer, so I help founders across the country raise billions in private investment capital, and I also advise VC funds. Therefore, due to my “day job”, I all the time hear about and have interaction in capital raises using the most recent technologies.
I used to be, and proceed to be, drawn to AI due to how interesting it’s for a policymaker to balance making people’s lives easier while ensuring that machine learning doesn’t disrupt our democracy and what makes us human. As a lawyer, I’m also interested in this because VCs and founders in the AI space seem to be bucking the recent trend of not raising as much investor capital as other subsets of technology. I do not know why that is obligatory and that is what makes it fascinating.
What work in AI are you most pleased with?
During the last legislative session of the Georgia General Assembly, I served on a small subcommittee on artificial intelligence that passed legislation regarding the upcoming election and “deep fraud” by political campaigns to influence the election.
This is only the start, but I’m proud that the state of Georgia has began having these conversations. The government tends to be years behind in catching up with emerging technology, so I’m glad we’re starting to take a look at every little thing related to AI – especially generative AI.
How do you cope with the challenges of the male-dominated tech industry, and by extension, the male-dominated AI industry?
Show up. I show up in spaces where these male-dominated industries would not expect me to be seen – events, conferences, discussions, etc. It’s the identical way I managed to break into the male-dominated enterprise capital industry: I just showed up knowing what I used to be talking about. I say and providing something of value that the industry needs.
What advice would you give to women wanting to start working in the AI industry?
Produce. Women are used to multitasking. In my opinion, that is top-of-the-line applications of generative and applied artificial intelligence. So I do know that ladies can produce a brand new AI-based product that may make life easier because we’re those who need it. You haven’t got to develop a product – you only need to be a visionary. Someone else can construct it. Show up. There are only so many spaces we will steer clear of. Continue learning. Technology changes so quickly. You want to give you the chance to provide value each time the chance arises and also you enter this space, so listen to YouTube and enroll to receive emails from someone talking about this space.
What are essentially the most pressing issues facing artificial intelligence because it evolves?
Fraud. Whenever a brand new technology comes along, someone is sneaky and cunning enough to discover a way to use it for evil. Particularly due to artificial intelligence, essentially the most vulnerable communities, resembling the elderly and immigrant populations, can be targeted. Privacy. A story as old as time and continued thanks to artificial intelligence. As you feed the AI machine more details about yourself, the higher it’ll turn out to be.
The downside is that it now knows and stores quite a lot of details about you. Data breaches occur on a regular basis. Hacking is one thing. So it is a problem. Adaptation for small businesses. Government, legal field, financial services. All of those industries tend to be more conservative and slower to adapt to latest technologies. However, in this dynamic world, slow use of AI is a recipe for small business failure. Government and company partners must find ways to train enterprises to respond to the changing technology and business development landscape resulting from AI.
What issues should AI users pay attention to?
Now you could have to second-guess every little thing due to the scam, and you could have to be picky in regards to the information you share with AI platforms. Additionally, users should know that AI technology is just as effective as human input. So there remains to be the potential for discrimination – consider artificial intelligence in job applications – which will result from its use.
What is the easiest way to construct AI responsibly?
Develop a written ethical framework with “DO’S and DON’T’s” that give attention to privacy, data security, anti-fraud measures, and continuous reassessment of discrimination issues in the system. Write down this ethical framework, share it together with your team, and stick to it.
How can investors higher promote responsible AI?
(See above) and with severance pay. In particular, firms that claim to be focused on ESG (environmental, social and governance) hold them accountable by asking the precise questions, requiring a written ethics plan and setting metrics to truly exhibit their ESG investment.
What all of us – the federal government, the private sector and individuals – need to do is to strike a balance pretty quickly between the innovations that I really like as America’s trademark and the rights – the precise to privacy, the precise to liberty, the precise to due process and nondiscrimination. The sooner we understand this balance and act, the higher we can be as a rustic and a world.
Technology
Flipkart co-founder Binny Bansal is leaving PhonePe’s board
Flipkart co-founder Binny Bansal has stepped down three-quarters from PhonePe’s board after making an identical move on the e-commerce giant.
Bengaluru-based PhonePe said it has appointed Manish Sabharwal, executive director at recruitment and human resources firm Teamlease, as an independent director and chairman of the audit committee.
Bansal played a key role in Flipkart’s acquisition of PhonePe in 2016 and has since served on the fintech’s board. The Walmart-backed startup, which operates India’s hottest mobile payment app, spun off from Flipkart in 2022 and was valued at $12 billion in funding rounds that raised about $850 million last 12 months.
Bansal still holds about 1% of PhonePe. Neither party explained why they were leaving the board.
“I would like to express my heartfelt gratitude to Binny Bansal for being one of the first and staunchest supporters of PhonePe,” Sameer Nigam, co-founder and CEO of PhonePe, said in a press release. His lively involvement, strategic advice and private mentoring have profoundly enriched our discussions. We will miss Binny!”
Technology
The company is currently developing washing machines for humans
Forget about cold baths. Washing machines for people may soon be a brand new solution.
According to at least one Japanese the oldest newspapersOsaka-based shower head maker Science has developed a cockpit-shaped device that fills with water when a bather sits on a seat in the center and measures an individual’s heart rate and other biological data using sensors to make sure the temperature is good. “It also projects images onto the inside of the transparent cover to make the person feel refreshed,” the power says.
The device, dubbed “Mirai Ningen Sentakuki” (the human washing machine of the longer term), may never go on sale. Indeed, for now the company’s plans are limited to the Osaka trade fair in April, where as much as eight people will have the option to experience a 15-minute “wash and dry” every day after first booking.
Apparently a version for home use is within the works.
Technology
Zepto raises another $350 million amid retail upheaval in India
Zepto has secured $350 million in latest financing, its third round of financing in six months, because the Indian high-speed trading startup strengthens its position against competitors ahead of a planned public offering next yr.
Indian family offices, high-net-worth individuals and asset manager Motilal Oswal invested in the round, maintaining Zepto’s $5 billion valuation. Motilal co-founder Raamdeo Agrawal, family offices Mankind Pharma, RP-Sanjiv Goenka, Cello, Haldiram’s, Sekhsaria and Kalyan, in addition to stars Amitabh Bachchan and Sachin Tendulkar are amongst those backing the brand new enterprise, which is India’s largest fully national primary round.
The funding push comes as Zepto rushes so as to add Indian investors to its capitalization table, with foreign ownership now exceeding two-thirds. TechCrunch first reported on the brand new round’s deliberations last month. The Mumbai-based startup has raised over $1.35 billion since June.
Fast commerce sales – delivering groceries and other items to customers’ doors in 10 minutes – will exceed $6 billion this yr in India. Morgan Stanley predicts that this market shall be value $42 billion by 2030, accounting for 18.4% of total e-commerce and a pair of.5% of retail sales. These strong growth prospects have forced established players including Flipkart, Myntra and Nykaa to cut back delivery times as they lose touch with specialized delivery apps.
While high-speed commerce has not taken off in many of the world, the model seems to work particularly well in India, where unorganized retail stores are ever-present.
High-speed trading platforms are creating “parallel trading for consumers seeking convenience” in India, Morgan Stanley wrote in a note this month.
Zepto and its rivals – Zomato-owned Blinkit, Swiggy-owned Instamart and Tata-owned BigBasket – currently operate on lower margins than traditional retail, and Morgan Stanley expects market leaders to realize contribution margins of 7-8% and adjusted EBITDA margins to greater than 5% by 2030. (Zepto currently spends about 35 million dollars monthly).
An investor presentation reviewed by TechCrunch shows that Zepto, which handles greater than 7 million total orders every day in greater than 17 cities, is heading in the right direction to realize annual sales of $2 billion. It anticipates 150% growth over the following 12 months, CEO Aadit Palicha told investors in August. The startup plans to go public in India next yr.
However, the rapid growth of high-speed trading has had a devastating impact on the mom-and-pop stores that dot hundreds of Indian cities, towns and villages.
According to the All India Federation of Consumer Products Distributors, about 200,000 local stores closed last yr, with 90,000 in major cities where high-speed trading is more prevalent.
The federation has warned that without regulatory intervention, more local shops shall be vulnerable to closure as fast trading platforms prioritize growth over sustainable practices.
Zepto said it has created job opportunities for tons of of hundreds of gig employees. “From day one, our vision has been to play a small role in nation building, create millions of jobs and offer better services to Indian consumers,” Palicha said in an announcement.
Regulatory challenges arise. Unless an e-commerce company is a majority shareholder of an Indian company or person, current regulations prevent it from operating on a listing model. Fast trading corporations don’t currently follow these rules.
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