Odd Industries has been selected along with 9 other ventures in Latin America and the Caribbean to constitute the advisory board of fAIr LAC, an initiative from the Inter-American Development Bank (IDB) and the IDB Lab, whose main objective is to promote the ethical and responsible adoption of artificial intelligence in entrepreneurial environments.
Artificial intelligence (AI) is one of the most disruptive technologies, with a great potential to improve our quality of life and solve many of today’s great economic, social and environmental challenges. An increasing number of countries have already began using this technology widely, but its use ought to respect the privacy of people’s data and anticipate possible biases in the construction of algorithms.
“The ethical and responsible use of AI is one of the most critical aspects for commercial success in the deployment of this set of technologies, due to the implications it has for users, customers and citizens, and ultimately for the development of the region,” explains César Buenadicha, Chief Discovery Officer of IDB Lab. “We are convinced that this initiative will be very relevant to promote a vibrant and impactful ecosystem in Latin America and the Caribbean in terms of AI.”
“Since we founded Odd, we wanted to use artificial intelligence following a strict ethical code in data management, which is why we do not execute any type of facial recognition or tracking of personal data that violate people’s privacy nor generate bias,” says Leo Prieto, CEO of Odd Industries. “We are excited that the IDB is leading this initiative and that we have been invited to play a part in the development of guidelines that contribute to the responsible use of this powerful technology.”
Odd Vision is proving that almost any closed circuit camera can be turned into a data-generating device to improve productivity, security and sustainability, harnessing the power of artificial intelligence to increase the value of existing infrastructure without invading people’s privacy nor generating bias in the data.
Odd’s contribution to the advisory board will help the work of fAIr LAC focusing on three axes:
- Develop standards and tools that guide the responsible and reliable use of artificial intelligence in Latin America and the Caribbean through certifications, algorithmic audits and specific guidelines.
- Encourage their responsible adoption through pilot programs and regional hubs to promote awareness of the ethical risks of using artificial intelligence in social services and ways to mitigate these risks.
- Lead a discussion about the responsible use of this technology, focused on citizens and from the perspective of diversity and inclusion, through the promotion of a diverse ecosystem with networks of experts, discussion tables, conferences and an observatory of use cases.
Learn more about Odd Vision at odd.co/en/vision
Learn more about fAIr LAC at www.iadb.org/fairlac
About the IDB
The Inter-American Development Bank’s mission is to improve lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
About the IDB Lab
IDB Lab is the IDB Group’s innovation lab, the main source of financing and knowledge for development focused on improving lives in Latin America and the Caribbean (LAC). The purpose of the IDB Lab is to promote innovation for inclusion in the region, mobilizing financing, knowledge and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social or environmental conditions. Since 1993, the IDB Lab has signed-off over USD 2 billion in projects developed in 26 LAC countries. Since October 29 of 2018, the IDB Lab is the new identity of the Multilateral Investment Fund (MIF).
About Odd Industries
Odd Industries builds computer vision platforms that seamlessly transform analog processes into digital data. Odd’s mission is to help less digitized industries, such as construction, manufacturing, natural resources, cities or ports, to become data-driven organizations, helping increase the efficiency, safety and sustainability of their processes and operations.