Hopefully, those are the sorts of companies that should fail or get sued, so they learn their lesson. Not holding my breath though.
Companies have been doing insane shit for the sake of saving a buck or getting to market fast for decades, it’s nothing new. AI may or may not just make it worse.
It comes down to risk-reward. If the risk is low enough, they take it - assuming the additional reward outweighs the consequences.
When your decision makers can just declare corporate bankruptcy when the risk finally happens, with no personal exposure other than loss of future income? You can bet they’ll take that risk every time.
The neck of the finance woods my employer is in is highly regulated.
Just failing to notify a regulator on time you blocked a transaction attempt involving a sanctioned individual means hundreds of thousands in fines per transaction (not up to, flat 6-digit fine) + potential prison time (can’t remember if it was up to 15 or 20 years)
Those are the threats, how often does it happen? How often is it blamed on software from a company that has somehow become untouchable? The day before I was talking with the guy that makes the software for gas station interface panels, I had one of those interface panels hit me up for my zipcode as they all did back in the day… I accidentally, but quite certainly, typed it in wrong and hit enter… 3 seconds later I’m approved and pumping gas. Software guy initially said that shouldn’t happen, but when I told him it happened to me at such and such gas station last Thursday he started hand waving about how sometimes the information isn’t actually verified…
Insane stuff.
Hopefully, those are the sorts of companies that should fail or get sued, so they learn their lesson. Not holding my breath though.
Companies have been doing insane shit for the sake of saving a buck or getting to market fast for decades, it’s nothing new. AI may or may not just make it worse.
It comes down to risk-reward. If the risk is low enough, they take it - assuming the additional reward outweighs the consequences.
When your decision makers can just declare corporate bankruptcy when the risk finally happens, with no personal exposure other than loss of future income? You can bet they’ll take that risk every time.
The neck of the finance woods my employer is in is highly regulated.
Just failing to notify a regulator on time you blocked a transaction attempt involving a sanctioned individual means hundreds of thousands in fines per transaction (not up to, flat 6-digit fine) + potential prison time (can’t remember if it was up to 15 or 20 years)
Those are the threats, how often does it happen? How often is it blamed on software from a company that has somehow become untouchable? The day before I was talking with the guy that makes the software for gas station interface panels, I had one of those interface panels hit me up for my zipcode as they all did back in the day… I accidentally, but quite certainly, typed it in wrong and hit enter… 3 seconds later I’m approved and pumping gas. Software guy initially said that shouldn’t happen, but when I told him it happened to me at such and such gas station last Thursday he started hand waving about how sometimes the information isn’t actually verified…