Podcast: AI+U - AI Value chain and Sovereignty
Our Chief Data Scientist Gordon Baggott joined AI+U for their second episode to share his thoughts on opportunities of utilising the public sector data, donated industry data for public good, and some of the cutting-edge work Smart Data Foundry is already supporting.
In this episode of AI+U, hosts Becky and Swag also talk about the importance of understanding AI Value Chain and how it leads to AI Sovereignty.
Key Takeaways
- Utilising public sector data and donated industry data can drive positive change
- Real-time data can inform more accurate decision-making and policy
- Data anonymisation is crucial for maintaining privacy
- Transparency and public trust are essential for responsible data use
- Innovation and automation can help overcome resource limitations
Episode Insights
The utilisation of public sector data and donated industry data presents a large range of opportunities for driving positive change and informed decision-making. As Gordon says in the podcast; repurposing data from financial institutions for in-depth analysis on economic wellbeing, looking at alleviating poverty, unemployment, homelessness, and other socially impactful causes, is a key aspect of the work at Smart Data Foundry (SDF). By leveraging this data, organisations can gain valuable insights into various aspects of society, ultimately contributing to the betterment of communities.
Gordon emphasises the importance of transparency and public trust in the use of this data. "We have GDPR regulations, we have very fastidious information governance rules and ethics rules as well... every researcher who accesses our data has to comply with ethical regulations." All data processed by SDF is anonymised which is crucial for maintaining data privacy while still allowing for meaningful analysis.
By examining demographics, age, sex, and fine locations, researchers can identify patterns and trends that inform strategies for both financial institutions and governance but are unable to link these across data sources.
The application of this data can have a significant impact on public policy and decision-making. One example of this is SDF working with the Scottish government to "look at the feasibility of actually taking financial transaction data for consumers and creating or inferring from that employment statistics." This project aims to fill the gap left by traditional survey data, which often has a low response rate and is outdated by the time it becomes available. By utilising real-time financial transaction data, researchers can provide more accurate and timely insights into employment trends, enabling policymakers to make more informed decisions.
For SDF, "one of the blockers really is we're a very small company... we're very ambitious, but we can only do so much." To overcome these limitations, in some instances SDF uses technical innovations, automation, and AI to scale operations and maximise productivity. For example, recently AI was used to create a data science MLOps pipeline from scratch, saving approximately eight weeks of work.
The strategic use of public sector data and donated industry data has the potential to drive significant positive change. This data can be leveraged to inform decision-making, drive policy, and ultimately improve the lives of individuals and communities. By prioritising transparency, ethics, and public engagement, organisations can build trust and ensure that this data is used responsibly.
The full podcast can be watched on YouTube or listened to on Spotify.
