By Taylor Durham
A.I. healthcare programs risks socioeconomic and racial bias
By 2025, the A.I. in healthcare market is estimated to reach $36.1B
CBx Vibe: “Ghost In The Machine” B.o.B.
The healthcare industry continues to incorporate artificial intelligence into many of its platforms, and early indicators reveal the technology outperforms and offers more accurate diagnoses than doctors. Healthcare has always struggled with income and race based inequities rooted in various forms of bias. A.I. seems like a sensible investment for the facilitation of most day-to-day healthcare activities, so should minorities approach the subject matter with apprehension?
Why This Matters: A.I. is an attractive proposal but with any technology, it comes with a list of growing concerns. In regards to A.I. in the healthcare market it’s estimated to be valued at $2.1 billion in 2018 and is expected to reach $36.1 billion by 2025. This sector is heavily reliant on large complex data sets, and medicine has long struggled to include minorities in research, leading to erroneous conclusions. Read More
CBx Vibe: “OSOM” Jay Rock Feat. J.Cole
Many parents seek the best schools, the best neighborhoods, and the best opportunities for their children. Cultural identity is crucial, but how do you spot it in your child’s classroom and what do you do when it’s not there?
Why This Matters: Black parents typically have to ask themselves a myriad of extra questions when it comes to their child’s education, especially when it’s clear that our the kid will be the minority in the group. Some of them focus on how will this opportunity, place, or person impact my children’s cultural identity? Will examples or samples that look like my children show up in the learning and/or experiences? If so, how? And is this culturally affirming? Read More
By CultureBanx Team
CBx Vibe: “2 Phones” Kevin Gates
Recently departed FCC Commissioner Mignon Clyburn announced she’s "advising" T-Mobile (TMUS +0.15%) as the company pushes towards regulatory approval for its $26B merger with Sprint. Obama nominee Clyburn is working as a paid adviser and has been seen as an ally to public interest groups who oppose the tie-up. Many people are left wondering if this deal closed and left the U.S. wireless market dominated by three national players, are low-income budget conscious consumers going to be stuck with higher prices and fewer options?
Why This Matters: Clyburn’s eight-year tenure focused on the needs of low-income and minority communities came to an end last year. She always weighed the human cost or benefit of a decision on things like net neutrality, broadband access and media regulation, which is why her advocacy for this deal is huge for T-Mobile and Sprint, but also a bit puzzling. In 2011, Clyburn actually opposed AT&T's (T +0.34%) bid for T-Mobile on the basis it was not in the public’s best interest. Read More
By Justin Moore
In 2016, it’s estimated that privately-held prison technology firms made $1.2B off phone systems alone
Artificial Intelligence used to store and analyze voices is subject to racial disparities
CBx Vibe: “Watching Me” Mike WiLL Made-It feat. Rae Sremmurd & Kodak Black
Prisons across the United States, in an attempt to bolster security and crack down on fraud, are quietly compiling the “voice prints” of prisoners. Voice print technology identifies a person based on the user’s unique vocal pattern. Once the unique voice print is collected, it can be used to identify the user in future and previously-recorded calls. Prisoner rights and privacy advocates have criticized many such programs for enrolling prisoners without their consent or with the threat of severely reduced phone privileges if consent is not provided.
Why This Matters: Prison in the U.S. is big business and in 2016, it’s estimated that privately-held prison technology firms made $1.2 billion from phone systems alone. In efforts to expand the bottom line, some prison tech firms have advocated to replace in-prison family visitation rooms with “video-visitation” terminals at the expense of the visitors. In addition to concerns about involuntarily enrolling inmates, facilities in New York and Arizona have confirmed their voice recognition systems can identify and catalogue the voices of outside callers. Read More
By CultureBanx Team
CBx Vibe: “Django Jane” Janelle Monae
Amazon's (AMZN -1.62%) board just became a little more woke with the appointment of Rosalind Brewer, Starbucks (SBUX +0.88%) COO. Its 10-person board now has four women members, and of course 6 white guys as well. The e-commerce giant and other big companies have been under pressure to diversify their boards. Given Brewer’s breadth of retail experience, could she be exactly what Amazon needs to kill two birds with one stone; traditional retail and its ongoing diversity struggles?
Why This Matters: Amazon has proven it can dramatically reshape whole, seemingly disconnected industries and now they’ve figured out board diversity. However, Rosalind Brewer is the second black woman to ever become a board director at Amazon. Myrtle Potter, former president and COO of Genentech, was on the company’s board from 2004 to 2009. It’s possible that Brewer holds the keys based on her former role as CEO of Walmart (WMT -1.19%) owned Sam's Club to help Amazon crush what’s left of retail. Read More
By CultureBanx Team
In its series D round Andela raised $100M
Andela receives anywhere from $50,000 to $120,000 per developer
CBx Vibe: “Go Get the Money” Zaytoven
African outsourcing startup Andela has just received a major injection of capital on its quest to continue connecting developers on the continent with tech companies around the world. They have raised $100 million and puts the valuation of the company at somewhere between $600 million and $700 million.
Why This Matters: If you’re wondering, what exactly does Andela do? They train developers across Africa for contract work with U.S. employers. Andela now operates in Kenya, Uganda, and Rwanda, and has about 1,100 developers on staff working for more than 200 companies, nearly 90% of which are located in the U.S. Read More
By Tracey Goins
CBx Vibe: “Every Breath You Take” The Police
Tech giant IBM (IBM -1.16%) wants to better train facial recognition systems in order to increase diversity and lower bias. Since facial recognition software is on the forefront of identification, and can be used to verify the identity of a person through photo or in real time, the data set needs to be much larger. To fix this IBM released a trove of data containing one million images of faces taken from a Flickr dataset with 100 million photos and videos.
Why This Matters: There is a looming problem with the algorithms. Datasets used to create facial recognition software lack diversity, causing a surge in misidentification, particularly among people of color. Among other tech giants, IBM was found to have misidentified gender in up to 7% of lighter-skinned females, up to 12% of darker-skinned males, and up to 35% of darker-skinned females. Read More
By CultureBanx Team
CBx Vibe: “Money” Cardi B
Streaming platforms take center stage in Goldman Sachs (GS -0.51%) latest music revenue forecast, with estimates it’s going to more than double to about $131 billion by 2030. Currently music streaming sales are dominated by top R&B and hip-hop artists such as Drake, Kendrick Lamar, The Weeknd, Migos and Cardi B. Music publishers and labels also stand to profit greatly from the rise of streaming, led by black listeners who are the largest user group.
Why This Matters: R&B and hip-hop are music’s most consumed genre. In 2017, Goldman found live music, publishing and recorded songs made $26 billion, $6 billion and $30 billion respectively. The firm estimates by 2030 these categories are going to reach $38 billion for live music, $12.5 billion for publishing, and the biggest gain will be seen in recorded songs at $80 billion. Recorded songs which fall into the streaming category will grow the most especially if we look at Nielsen’s Music Mid-Year 2018 Report, U.S. that notes music consumption rose 18.4% last year. Read More
By Sabrina Lynch
CBx Vibe: “Boss” The Carters
Nas has once again secured another bag based on investments that his Queensbridge Ventures firm has made. This time around they’ve sold their portfolio company Pluto TV for $340 million to Viacom (VIAB +3.26 %). As a major contender in the digital entertainment market, Pluto TV will now have access to resources to exponentially grow their consumer base. Viacom in turn, will profit from Pluto TV’s existing distribution deals and expand its global footprint.
Why This Matters: Research by Apptopia found Pluto TV secured more users than Youtube TV and HBO Now combined since July 2013, and confirmed its position as a challenger brand to watch. Culturally rich viewership has come to the forefront of priorities for broadcast conglomerates, primarily because African American consumers stream more videos than the total U.S. population. Comcast recently acquired minority-owned networks Cleo TV and Afro. Furthermore, minority-owned streaming services able to accelerate at the speed of Pluto TV are few and far between. Read More