Facebook to setup AI Ethics institute; commits to invest $7.5 million

The social networking giant, Facebook has decided to invest $7.5 million to setup a new institute devoted to ensuring ethical use of artificial intelligence (AI). This investment by Facebook for the institute will help in investigating issues around AI safety, fairness, privacy, and transparency. There has been a lot of debate around emerging technologies, leading to even a war of words over the use of artificial intelligence.

The institute will be a part of the Technical University of Munich (TUM) in Germany. The institute will help to advance the cause of ethical research in new technologies. As leading tech companies try to address the fundamental issues impacting the use of AI, the institute will address several key problems in this area.

In the press release, Facebook said, “Artificial intelligence offers an immense opportunity to benefit people and communities around the world. Academics, industry stakeholders and developers driving these advances need to do so responsibly and ensure AI treats people fairly, protects their safety, respects their privacy and works for them.”

The social networking firm has offered the initial grant of $7.5 million to the institute. The grant will be offered for a period of five years. The institute will create educational content to address questions around trust, privacy, inclusion, and fairness in the digitalised world.

Facebook is struggling with data privacy concerns over the last two years. The company has failed to stop the spread of fake news, terrorist propaganda, and hate speech on its platform. Privacy issues such as the Cambridge Analytica scandal have brought in a lot of criticism for Facebook.

CEO Mark Zuckerberg has assured the US Congress that Facebook will increase its dependency on artificial intelligence (AI) to filter the content on the internet. Facebook shortlisted TUM as it is regarded as a top university in the field of artificial intelligence research.