April 2024 – Page 6 – AbellMoney

Guide to safe and ethical use of facial recognition tools launched

New guidance to ensure that Facial Recognition Technology (FRT) acts as a force for good in society has been published by BSI, aiming to help organisations navigate the ethical challenges associated with the use of the technology and build trust in its use as a result.
Use of Artificial intelligence (AI) powered facial recognition tools is increasingly common, including for security purposes such as at King Charles’ Coronation or major sporting events like football matches, and to curb shoplifting. FRT maps an individual’s physical features in an image to form a face template, which can be compared against other images stored within a database to either verify a high level of likeness or identify an individual’s presence at a specific location at a given time.
BSI’s recent research showed that 40% of people globally expect to be using biometric identification in airports by 2030. Its proliferation has prompted concerns about safe and ethical use, including around error rates linked to racial or gender differences, as well as high-profile legal cases, among them one involving software used by Uber. A 2022 audit assessed police use of facial recognition, finding that deployment regularly failed to meet minimum ethical and legal standards.
The new standard has been developed by BSI, in its role as the UK National Standards Body, to assuage concerns by helping organizations navigate the tools and build public trust. It follows BSI’s Trust in AI poll showing that 77% of people believed trust in AI was key for its use in surveillance.
Designed for both public and private organizations using and/or monitoring Video Surveillance Systems (VSS) and Biometric facial technologies, the code of practice is applicable to the whole supply chain, beginning with an assessment to determine the need to use FRT, to its procurement, installation, and appropriate use of the technology. Facial recognition technology – Ethical use and deployment in video surveillance-based systems – Code of practice (BS 9347:2024)sets out six key overarching principles of ‘trustworthiness’. These are backed up with a summary of policies that are required and to be maintained by those across the supply chain. The guide covers its applicability across governance and accountability, human agency and oversight, privacy and data governance, technical robustness and safety, transparency and explain-ability, diversity, non-discrimination, and fairness.
With the industry expected to be worth $13.4 billion globally by 2028, the standard sets out the importance of regularly reviewing the ethics of AI and its application in FRT. It embeds best practice and gives guidance on the appropriate guardrails for safe and unbiased use of FRT through the definition of two scenarios: identification and verification. For the former, such as identifying individuals in crowds at events, the standard requires that FRT is used in conjunction with human intervention or human-in-the-loop measures to ensure accurate identification before action is taken.
In verification scenarios where the technology can operate autonomously, such as building access control, authenticating a payment transaction, or opening a phone, the standard puts guardrails in place for the technology’s learning by ensuring training data includes sets from diverse demographic pools and across a variety of lighting levels and camera angles, to eliminate inaccuracies and mitigate the risk for bias by way of false positives.
Scott Steedman, Director-General, Standards, BSI said: “AI-enabled facial recognition tools have the potential to be a driving force for good and benefit society through their ability to detect and monitor potential security threats.
“This code of practice is designed to help organizations navigate the ethical challenges associated with the use of FRT systems and build trust in its use as a result. It aims to embed best practice and give guidance on the appropriate guardrails organizations can put in place to safeguard civil rights and eliminate system bias and discrimination.”
Dave Wilkinson, Director of Technical Services, British Security Industry Association, said “The use of FRT has not come without its own challenges, whether that has been down to the accuracy of the technology, or how and where it is deployed. Many relevant questions have been asked by privacy groups, industry stakeholders and other interested parties on the appropriate and proportionate use of such technology. This code of practice aims to instil trustworthiness in the use of FRT by setting out key principles covering the whole process from assessing the need to use it, to ensuring its continued operation remains fit for purpose and justified.
“Aligned to the understanding of developing regulation both here in the UK and the wider international regulatory landscape, the code of practice sets out to build trust with those that develop, use, and are subject to its use.”
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Guide to safe and ethical use of facial recognition tools launched

Building trust in a sceptical market: how to overcome doubt

Establishing trust in a B2B market is one of the biggest challenges faced by SMEs. Without being a global household name, how do you go about establishing your business as reliable, trustworthy, and capable of delivering high quality results?
Trust is the currency that drives successful customer relationships but gaining that trust with increasingly cautious prospects can be a daunting task, particularly in a world inundated with a myriad of sales messages and questionable practices.
Sales expert Richard Lane, the co-founder and CCO of durhamlane, a strategic global revenue acceleration agency, discusses effective strategies to overcome doubt and build strong relationships in B2B markets, drawing insights from his firm’s work with Centrica (British Gas) during the recent energy crisis to ensure their sales lead pipeline remained steady in a declining market.
Understanding the market
In a sceptical market, potential customers approach B2B sales and marketing messages with a healthy dose of doubt. It’s likely they have come across exaggerated claims, overblown statistics or disappointing results from other SMEs in the industry. Why shouldn’t they be wary of engaging with new businesses? If they’re questioning your practices or the validity of your claims upon first meeting, take a moment to recognise this isn’t an attack. It’s the first moment you can start to build trust with your potential client. By recognising their concerns and providing high quality evidence as to your promised outcomes, you begin to build a relationship where your client expects and trusts you to deliver this kind of result for them, too.
So, keep your standards high, and your outputs honest, to kick off a relationship of trust with a client. You’ll only disappoint them if you don’t.
Don’t back off from a challenge
When difficulty hits a business, or even the wider industry, that business will often turn to sales and marketing companies for help. It’s something I’ve seen over the years at durhamlane and it can be a tricky place to start from. With the recent turbulence in the UK energy market, companies like Centrica face the challenge of how to continue expanding their customer portfolio amidst this market uncertainty. Centrica approached us at the start of the energy crisis looking for help to do just that.
Since the project went live in 2021, we’re closing in on 800 sales qualified leads, with significant numbers of these converting into revenue.
There’s nothing that says ‘trust’ like delivering on your promises, especially in the face of adversity.
Grappling with doubt
Potential clients may have specific doubts and objections when considering your product or service. These doubts can range from concerns about quality and reliability, to worries about hidden costs or poor on-going support and communication. Addressing these doubts head-on will serve to strengthen your relationship. Recognising the work you’ve done to address and avoid these negative experiences with other clients, sets a strong standard of reliability. If you anticipate and proactively address common objections, you can fill your potential clients with confidence about your conscious approach to common weak points.
Be honest and interested
Transparency is a crucial tool for building trust. People work with people, and your clients want to know they’re working with a team that is trustworthy and honest. You might be thinking, “Surely that goes without saying?”, but you’d be surprised how small things like poor comms and over-promising and underdelivering can create an environment of mistrust and cause relationships to falter.
If you’re truthful from the start about pricing, policies, and processes, you immediately help alleviate doubt and demonstrate a commitment to fairness. When committing to a service, wouldn’t everyone love to see an honest display of exactly what they are getting and how much it will cost? Extend that privilege to your potential customers, and you’ll find people appreciate it, and trust grows from there.
Maintaining consistent and transparent communication throughout the sales process also contributes to the development of your strong relationships. It’s not a case of wooing them just to get them on board, but a case of giving them high-quality treatment throughout, and being transparent about that. That’s how you keep their trust in you, so start with being transparent upfront, and maintain it.
Spend your time listening actively to your prospective customers. Focus on business fit to ensure you are focused on helping them create success rather than chasing the order.
Demonstrating excellence
Remember that high-quality evidence I mentioned earlier? The best thing you can do to build the reputation of your business, and thus the trust in your enterprise, is to develop a bank of outside opinions. This can take the form of customer testimonials, case studies, reviews, or similar qualitative evidence that provides social proof and establishes credibility. If you are delivering a quality service, you will have served positive experiences to existing clients— make use of them! By promoting them to potential clients, you demonstrate your expertise and reliability. A strong track record speaks for itself.
This tactic was also essential to our work building a sales strategy for Centrica. Our goal was to help Centrica distinguish itself from its competitors by taking a different approach to the market. One of the key ways we connected with leads was by advising prospects on how to adapt to the decarbonisation agenda of the UK government. By positioning Centrica as knowledgeable and trustworthy, we were able to deliver a well-rounded approach and generate high-quality results.
Holding standards high
Building trust is not a one-time effort; it’s common sense that it’s a matter of consistency and ongoing relationship-building. But I can’t overstate how important it is to focus on nurturing long-term relationships with your customers, and how often this gets forgotten about.
This means personalised communication, regular follow-ups, and delivering on promises consistently and on time, whether it’s monthly reports or bigger proposals. You want to demonstrate a genuine interest in your customers’ success and provide ongoing support in all areas, building your relationship to last beyond the initial sale to ensure repeat business and loyalty.
We kept standards high on behalf of Centrica in a similar way, prioritising understanding customer needs, and positioning Centrica as a trusted advisor. This saw our team successfully build credibility and long-term relationships with prospects and deliver the results.
Make noise about yourself
Something else that needs consistent work is establishing your business, which is a well-known reality for any business owner! While it may feel like the work is never done, it can be made easier. Have a plan in place to continually generate noise about your business and just how good your knowledge and processes are.
Becoming a thought leader in your industry, sharing valuable insights and expertise through quality blogs, whitepapers, and educational content, will establish you as credible and trustworthy. Putting that emphasis on your understanding of customers’ needs demonstrates just how experienced you are, displaying to any prospective client that the quality of your product or service is critically important to you.
In summary..
Building trust in a sceptical B2B market requires time, care, and a great deal of consideration on your end. By delivering on promises, maintaining transparent communication, demonstrating integrity and leveraging social proof, you can demonstrate the value of your business and establish the kind of trust that leads to long-lasting customer relationships. Don’t ignore the existence of scepticism in your market, or amongst your prospective clients. Instead, embrace it – and turn it to your own advantage.
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Building trust in a sceptical market: how to overcome doubt

Royal Mail urged to investigate claims of Chinese-made fake stamps

Reports have surfaced alleging that Chinese factories are producing counterfeit British stamps in large quantities, raising concerns about the integrity of the UK’s postal system and potential economic implications.
According to these reports, Chinese suppliers are offering to manufacture up to 1 million fake Royal Mail stamps per week, with some websites selling them in bulk. This has led to speculation about possible state involvement, with suggestions of “economic warfare” targeting the UK’s postal infrastructure.
Post Office minister Kevin Hollinrake has called on Royal Mail to investigate the allegations and prevent counterfeit stamps from entering circulation. There is recognition of the need to identify the source of these fake stamps and address any vulnerabilities in the supply chain. However, detecting counterfeit stamps has become increasingly challenging, as they have become more realistic, making it difficult even for experts at Royal Mail to distinguish them from genuine ones.
The presence of counterfeit stamps in the supply chain poses risks for retailers and consumers alike. Smaller shops and online marketplaces may unwittingly sell or purchase these fake stamps, leading to financial losses and potential legal consequences. Royal Mail acknowledges the problem and states that it is actively working to remove counterfeit stamps from circulation. This includes monitoring online marketplaces, collaborating with law enforcement agencies, and recovering counterfeit stamps with significant retail value.
However, the Chinese embassy in London has denied any state involvement in counterfeiting stamps, dismissing the claims as “absurd.” Instead, they emphasize the need for thorough investigation into the internal supply chain to address the issue. Despite this denial, concerns persist about the impact of counterfeit operations on the UK’s postal system and the need for concerted efforts to combat counterfeiting effectively.
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Royal Mail urged to investigate claims of Chinese-made fake stamps

UK cyber defences faltering as half of businesses hit by cyber attack, …

The cyber defences of UK businesses are faltering as 50 per cent of businesses reported a cyber attack or breach over the past 12 months, according to the government’s latest Cyber security breaches survey 2024.
The figure rose substantially among medium businesses (70 per cent) and large businesses (74 per cent), while 32 per cent of charities were subject to an attack or breach.
Phishing was by far the most common threat type facing businesses, attacking 84 per cent of targeted businesses. While organisation impersonation and virus or other malware were the next most common threatening 35 per cent and 17 per cent of targeted businesses respectively.
The increased threat landscape comes despite a rise in cyber hygiene, with 83 per cent using up-to-date malware protection, up from 76 per cent last year, and 75 percent deploying network firewalls, up from 66 per cent.
The most disruptive breach over the past year cost each business an average of approximately £1,205.
Commenting on the findings, Achi Lewis, Area VP EMEA for Absolute Software, said: “From the Prime Minister to large enterprises to charities, anyone and everyone can be targeted by a malicious cyber attack. It’s more important than ever for organisations to have cyber resilience underpinning robust defence measures, emphasising reactive, preventative, and recovery procedures, as threats are a case of when not if.”
“Especially in today’s work-from-anywhere world, security teams need visibility over an organisation’s entire network to protect devices, applications, and ultimately staff. Secure access technology can establish trust between devices and a network, alerting centralised IT teams to suspicious behaviour and providing them with the power to freeze or even shut down potentially compromised devices. An approach to security that includes cyber resilience built into defences is the best way for targeted organisations to ensure their measures are working as needed to avoid being breached.”
In total, 31 per cent of businesses claimed they have undertaken cyber security risk assessment over the past year, while a third (33 per cent) deployed security monitoring tools to bolster their defences.
Cybersecurity expert Oseloka Obiora, CTO, RiverSafe, commented: “There is no doubt that developments such as AI have made the job of security teams more difficult over the past year, increasing the volume and sophistication of external threats, as well as creating an open door for insider threat through tools like ChatGPT. Now, organisations need to be even more aggressive with their response and remediation plans if they are to withstand a new flavour of AI-generated cyber attacks.”
“To increase preparedness, security teams need robust network visibility to enable them to swiftly detect and address vulnerabilities across systems, mitigating the impact of cyber threats, especially across complex or dispersed IT systems.”
The number of businesses insured against cyber security risks rose from 37 per cent to 43 per cent over the past 12 months, a figure which rises among medium and large companies.
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UK cyber defences faltering as half of businesses hit by cyber attack, according to Government survey

Meta employees discussed buying Simon & Schuster to train AI model …

Recent revelations from internal meetings at Meta, the parent company of Facebook and Instagram, have shed light on discussions among managers, lawyers, and engineers regarding the potential acquisition of Simon & Schuster to procure books for training the company’s artificial intelligence (AI) tools.
The recordings, shared with the New York Times by an employee of Meta, offer insights into deliberations on leveraging the renowned publishing house’s extensive catalog to enhance AI training, prompting ethical and legal considerations.
According to the recordings spanning March to April 2023, Meta personnel convened on a near-daily basis to explore avenues for acquiring additional data to train AI models. Discussions included the possibility of purchasing Simon & Schuster, with some participants contemplating paying $10 per book for licensing rights to new titles.
Simon & Schuster, a prominent player in the English-speaking publishing landscape and part of the esteemed “Big Five” alongside Penguin Random House, HarperCollins, Hachette, and Macmillan, boasts a roster of distinguished authors such as Stephen King, Colleen Hoover, and Bob Woodward.
The prospect of Meta acquiring Simon & Schuster arose following Paramount Global’s announcement in March 2020 of its intent to divest the publishing house. Despite an aborted merger attempt with Penguin Random House, Simon & Schuster was ultimately sold to private equity firm KKR in August 2023.
Ahmad Al-Dahle, Meta’s vice president of generative AI, reportedly informed executives that the company had exhausted nearly all available English-language literary content on the internet for AI training purposes, prompting the search for new data sources.
Employees acknowledged using text sources without permission and contemplated expanding these practices despite potential legal ramifications. Concerns raised by a lawyer regarding the ethical implications of using copyrighted intellectual property were met with silence.
Additionally, discussions revealed Meta’s employment of contractors in Africa to aggregate summaries of copyrighted fiction and non-fiction texts, raising further ethical and legal questions regarding data collection practices.
Maria A Pallante, president of the Association of American Publishers, expressed skepticism about Simon & Schuster’s willingness to entertain such a sale, questioning Meta’s intentions and its potential impact on authors and contractual agreements.
In a related development, California federal judge Vince Chhabria dismissed a portion of a copyright lawsuit filed by comedian Sarah Silverman and other authors against Meta over the use of copyrighted books in training its AI system LLaMA. Chhabria cast doubt on claims that the AI models’ outputs significantly resembled the authors’ works, underscoring ongoing debates surrounding AI and intellectual property rights.
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Meta employees discussed buying Simon & Schuster to train AI models, report reveals

7.4 Million UK Consumers Struggle to Pay Bills, Financial Regulator Fi …

According to recent findings from the Financial Conduct Authority (FCA), more than 7.4 million individuals across the UK encountered challenges in meeting bill payments or credit repayments in January, underscoring ongoing financial strain among a significant portion of the population.
Although this figure represents a decrease from previous years, it remains substantially higher than pre-crisis levels, indicating persistent financial difficulties exacerbated by the cost of living crisis.
The FCA’s data, which tracks household financial distress, reveals a concerning trend of escalating financial challenges over recent years. In February 2020, prior to the onset of the cost of living crisis, 5.8 million individuals reported struggling to pay significant bills. By January 2023, following the impact of events such as the Russian invasion of Ukraine, this number nearly doubled to 10.9 million.
In response to these findings, the FCA emphasizes the importance of proactive engagement with lenders for individuals facing financial hardship. It reassures consumers that discussing financial concerns with lenders will not adversely affect their credit scores, underscoring the obligation of financial firms to listen to customer concerns and provide appropriate support.
Over the past year, 2.7 million individuals sought assistance from lenders, debt advisers, or financial support charities. Encouragingly, nearly half of those who sought help reported experiencing improved financial circumstances as a result. However, the FCA expresses concern over the reluctance of some individuals to engage with lenders about their financial challenges, with two in five individuals who fell behind on payments avoiding such discussions.
Laura Suter, director of personal finance at AJ Bell, acknowledges the mixed financial landscape reflected in the data, noting significant disparities in household financial resilience. While a substantial portion of the population faces financial precarity, a majority still maintain disposable income, highlighting the divided nature of the economic recovery.
In response to these findings, the FCA reiterates the obligation of financial firms to support customers and collaborate with them to address payment difficulties. Sheldon Mills, executive director of Consumers and Competition at the FCA, urges individuals struggling with payments to reach out to their lenders promptly, emphasizing the availability of support options and free debt advice through resources like MoneyHelper.
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7.4 Million UK Consumers Struggle to Pay Bills, Financial Regulator Finds

Next and Frasers Group vying to acquire troubled Ted Baker

Next and Frasers Group have emerged as potential buyers for Ted Baker’s European retail business, signalling interest in salvaging the fashion label after its recent collapse into administration.
Both companies are in discussions with administrators at Teneo Advisory to explore the possibility of acquiring all or parts of Ted Baker’s operations.
The collapse of No Ordinary Designer Label Limited, Ted Baker’s retail and ecommerce business in Britain and Europe, last month prompted interest from retail heavyweights Frasers Group, helmed by Mike Ashley, and Next, under the leadership of Lord Wolfson of Aspley Guise. Authentic Brands Group, which acquired Ted Baker for £211 million in 2022, attributed the collapse to significant damage incurred during a partnership with AARC, a Dutch company overseeing Ted Baker’s UK and European operations.
While Ted Baker’s administration resulted in the closure of several stores and redundancies, potential buyers Next and Frasers Group are exploring avenues to salvage some shops under a prospective deal. Sources suggest that both companies have a limited timeframe to submit bids, with an announcement expected within the next three weeks.
Next and Frasers Group have established themselves as active players in the retail acquisition landscape, with Next acquiring brands like FatFace, Joules, and Cath Kidston, among others, in recent years. Frasers Group, on the other hand, has expanded its portfolio with acquisitions such as Matchesfashion, Wiggle, and Jack Wills, demonstrating a strategic focus on diversifying its retail offerings.
The interest shown by Next and Frasers Group in Ted Baker underscores the ongoing challenges faced by the fashion retailer since the departure of founder Ray Kelvin in 2019. Despite subsequent leadership changes and transformation efforts, Ted Baker has struggled to regain its footing in the market. Its acquisition by Authentic Brands Group in 2022 marked a shift to a privately owned and licensed business model, yet the company’s fortunes have continued to wane.
As Ted Baker navigates through administration, the prospect of acquisition by established retail players like Next and Frasers Group offers a glimmer of hope for the brand’s future, potentially providing a path to revitalization and sustainable growth in the retail landscape.
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Next and Frasers Group vying to acquire troubled Ted Baker

eBay Waives Fees for Second-Hand Clothing Sales to Combat Fashion Wast …

eBay has made a significant move in the fight against fashion waste by abolishing fees for the sale of second-hand clothing on its platform, aiming to encourage more people to participate in the circular economy of fashion.
This decision, effective immediately, underscores the company’s commitment to sustainability and its efforts to rival prominent second-hand clothing apps like Vinted and Depop.
Starting today, eBay users can sell pre-owned clothing items, including those with tags still attached, without incurring any fees. This initiative reflects eBay’s acknowledgment of the growing importance of sustainability in consumer behavior, particularly among younger demographics attracted to platforms focused on second-hand fashion.
However, it’s important to note that the fee waiver does not extend to other fashion-related items such as trainers, watches, handbags, and jewellery. Standard seller fees still apply to these categories.
Kirsty Keoghan, eBay’s general manager of global fashion, emphasized the significance of the fee waiver in promoting a circular economy for fashion. Keoghan stated, “Free fashion selling has come at the right time for a nation sitting on billions of pounds worth of unwanted clothes.” She highlighted the ease of selling clothes on eBay and the financial benefits it offers to sellers.
eBay’s decision aligns with its broader sustainability goals, aiming to divert clothing from landfills and contribute to waste reduction efforts in the fashion industry. The company cited its role in preventing over 1,600,000 kilograms of clothing waste from reaching landfills last year through second-hand clothing sales on its platform.
The fashion industry’s environmental impact is substantial, accounting for approximately 10% of global carbon emissions. By promoting the resale of pre-owned clothing, eBay seeks to mitigate the environmental footprint of fashion consumption and foster a more sustainable approach to apparel consumption.
With this move, eBay positions itself as a leader in sustainable fashion initiatives while also addressing the evolving preferences of consumers, who increasingly prioritize ethical and environmentally conscious shopping practices.
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eBay Waives Fees for Second-Hand Clothing Sales to Combat Fashion Waste

Barclays Challenges Financial Ombudsman Service Over Car Finance Commi …

Barclays, a prominent high street banking giant, has launched a legal challenge against a ruling by the Financial Ombudsman Service (FOS) regarding a commission payment made for car finance, signalling mounting apprehension among major lenders regarding potential compensation obligations.
The legal dispute revolves around a decision made by the FOS last June, which found Barclays to have unfairly paid commission to a car finance broker in the case of a customer referred to as Miss L. The customer was allegedly unaware of a nearly £1,600 commission included in her loan agreement when purchasing a car in 2018.
Sources within the financial sector disclosed that Barclays has opted to pursue a judicial review in response to what it perceives as several misinterpretations of the law in Miss L’s case. However, the bank maintains that its challenge is specific to this instance and not indicative of broader industry concerns.
Miss L’s case was highlighted by the Financial Conduct Authority (FCA) in January amid a review of historical motor finance commission arrangements and sales across multiple firms. The FCA, although not explicitly naming the firms under scrutiny, engaged EY to conduct a thorough review of these practices.
The FCA’s inquiry has sparked fears among bank investors of potential compensation liabilities akin to those witnessed during the payment protection insurance (PPI) scandal. Lloyds Banking Group, for instance, provisioned £450 million in its annual results to cover possible compensation arising from the FCA’s probe.
While Lloyds Banking Group refrained from commenting on potential legal action, Barclays has taken a proactive stance in challenging the FOS’s decision. The bank emphasizes its commitment to supporting the FCA’s review of historic motor financing arrangements.
A spokesperson for Barclays stated, “We do not agree with the Financial Ombudsman Service’s decision in this case and are therefore challenging it.” The spokesperson reiterated Barclays’ cooperation with the FCA’s broader review while ensuring that the customer affected by the challenge would not incur any financial losses.
Barclays’ legal action underscores the heightened scrutiny faced by banks regarding their past practices, with the outcome potentially shaping the landscape of the car finance industry in the UK.
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Barclays Challenges Financial Ombudsman Service Over Car Finance Commission Claim