Reddit Robots, Database, Facial Recognition, Machine Learning, Data Asset, and Content Moderation

This week we begin with an article on how hedge funds find it difficult to train their algorithms trawl through the Reddit platform and extract chats into data useful for trading. Next is a piece on the Google-funded COVID-19 repository that helps researchers monitor coronavirus variants. The following article is on the Facebook privacy settlement of the 2015 suit that violated Illinois law by using facial recognition tagging. Following this, we analyse the hurdles of applying machine learning techniques to solve real-world problems. Next is a podcast conducted by The Brief with Abhishek Bali, the CEO of ZIGRAM, on the importance of data assets in future businesses. To end, we have a video on why content moderation costs social media companies billions of dollars.

Robots on Wall Street Wrestle With Confusing World of Reddit

Rocket emojis for stock gains. “Tendies” as slang for profits. GIFs with company tickers. Reddit forum WallStreetBets is hard for humans to follow at the best of times. But spare a thought for the machines. After the retail stock frenzy, last month caused unprecedented havoc, hedge funds trawling the platform with algorithms have a renewed sense of purpose in their mission to figure out the next.

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Massive Google-funded COVID database will track variants and immunity

An enormous international database launched today will help epidemiologists to answer burning questions about the coronavirus SARS-CoV-2, such as how rapidly new variants spread among people, whether vaccines protect against them and how long immunity to COVID-19 lasts. Unlike the global COVID-19 dashboard maintained by Johns Hopkins University in Baltimore, Maryland, and other popular trackers that list overall COVID-19 infections and deaths, the new repository at the data-science initiative called collects an unprecedented amount of anonymized information about individual cases in one place. 

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Judge approves $650 million Facebook privacy settlement over facial recognition feature

A federal judge on Friday gave final approval to a $650 million Facebook class action privacy settlement and ordered the 1.6 million members of the class in Illinois who submitted claims to be paid “as expeditiously as possible. Chicago attorney Jay Edelson sued Facebook in Cook County Circuit Court back in 2015, alleging that the platform’s use of facial recognition tagging was not allowed under the Illinois Biometric Information Privacy Act.

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Why machine learning strategies fail

Most companies are struggling to develop working artificial intelligence strategies, according to a new survey by cloud services provider Rackspace Technology. The survey, which includes 1,870 organizations in a variety of industries, including manufacturing, finance, retail, government, and healthcare, shows that only 20 percent of companies have mature AI/machine learning initiatives. The rest are still trying to figure out how to make it work.

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Understanding Data Assets And Their Significance In The Future Of Businesses Across The World

We recently hosted Abhishek Bali as a guest on the latest episode of our podcast series Out Of The Pod, where Abhishek spoke to us about the growing significance of data assets in businesses, the philosophy with which he chose to disrupt this space, the potential of the data assets market, and more. Abhishek, given his credentials as the Founder/CEO of Zigram, brings immense experience in this space, which inevitably added tremendous value to our conversation.

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Why Content Moderation Costs Social Media Companies Billions

After the riots at the Capitol on January 6, debate is swirling over how platforms moderate content and what is protected as free speech. While some, like TikTok, directly employ content moderators, Facebook, Twitter and YouTube largely outsource the grueling work to thousands of workers at third-party companies. Some companies are relying more on algorithms to take over the dirty work, but experts say machines can’t detect everything — like the nuances of hate speech and misinformation.

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