Twitter said it would offer a cash 'bounty' to users and researchers to help root out algorithmic bias on the social media platform. AFP
Twitter said it would offer a cash 'bounty' to users and researchers to help root out algorithmic bias on the social media platform. AFP
Twitter said it would offer a cash 'bounty' to users and researchers to help root out algorithmic bias on the social media platform. AFP
Twitter said it would offer a cash 'bounty' to users and researchers to help root out algorithmic bias on the social media platform. AFP

Twitter offers cash 'bounty' to hackers who can find biases in image algorithm


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Twitter Inc said on Friday it will launch a competition for computer researchers and hackers to identify biases in its image-cropping algorithm, after a group of researchers previously found the algorithm tended to exclude black people and men.

The competition is part of a wider effort across the tech industry to ensure artificial intelligence technologies act ethically.

The social networking company said in a blog post that the bounty competition was aimed at identifying "potential harms of this algorithm beyond what we identified ourselves."

Following criticism in 2020 about image previews in posts excluding black people's faces, the company said in May a study by three of its machine learning researchers found the algorithm did in fact display “unequal treatment based on demographic differences."

It favoured women more highly than men by 8 per cent, and it favoured photos of white people over black individuals by 4 per cent, Twitter said. Within those demographics, white women were more highly favoured by 7 per cent compared with black women; and white men were favoured 2 per cent more than black men.

The analysis also delved into objectification biases – or the “male gaze” – after people on Twitter identified instances where cropping chose a woman’s chest or legs as a salient feature. However, they “did not find any evidence that the algorithm cropped images of men or women in areas other than their face at a significant rate".

To determine this, they gave the algorithm 100 randomly chosen images and found that only three centred on bodies over faces. It stated that "when images weren't cropped at the head, they were cropped to non-physical aspects of the image, such as a number on a sports jersey".

"We considered the trade-offs between the speed and consistency of automated cropping with the potential risks we saw in this research. One of our conclusions is that not everything on Twitter is a good candidate for an algorithm, and in this case, how to crop an image is a decision best made by people," Rumman Chowdhury, Twitter's director of software engineering, wrote in a blog post in May.

On Friday, Twitter released publicly the computer code that decides how images are cropped in the Twitter feed, and said participants are asked to find how the algorithm could cause harm, such as stereotyping or denigrating any group of people.

The winners will receive cash prizes ranging from $500 to $3,500 and will be invited to present their work at a workshop hosted by Twitter at Def Con in August, one of the largest hacker conferences held annually in Las Vegas.

– Additional reporting by Reuters


Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

UAE%20SQUAD
%3Cp%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Aryan%20Lakra%2C%20Ashwanth%20Valthapa%2C%20Asif%20Khan%2C%20Aryansh%20Sharma%2C%20CP%20Rizwaan%2C%20Hazrat%20Billal%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Rohan%20Mustafa%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%20and%20Zawar%20Farid.%3C%2Fp%3E%0A
'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Bugatti Chiron Super Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,600hp

Torque: 1,600Nm

0-100kph in 2.4seconds

0-200kph in 5.8 seconds

0-300kph in 12.1 seconds

Top speed: 440kph

Price: Dh13,200,000

Bugatti Chiron Pur Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,500hp

Torque: 1,600Nm

0-100kph in 2.3 seconds

0-200kph in 5.5 seconds

0-300kph in 11.8 seconds

Top speed: 350kph

Price: Dh13,600,000

Updated: July 31, 2021, 10:28 AM