People trust machines more than humans for sharing data

Agencies
May 12, 2019

People tend to trust machines more than humans when it comes to sharing private information and access to their financial data, an Indian-origin researcher has stressed.

People who trusted machines were significantly more likely to hand over their credit card numbers to a computerised travel agent than a human travel agent, said S. Shyam Sundar, Co-director of the Media Effects Research Laboratory and affiliate of Penn State's Institute for CyberScience (ICS).

"A bias that that machines are more trustworthy and secure than people -- or the machine heuristic -- may be behind the effect," Sundar added.

The faith in machines may be triggered because people believe that machines do not gossip, or have unlawful designs on their private information.

However, said Sundar, while machines might not have ulterior motives for their information, the people developing and running those computers could prey on this gullibility to extract personal information from unsuspecting users, for example, through phishing scams.

"This study should serve as a warning for people to be aware of how they interact online. People should be aware that they may have a blind belief in machine superiority. They should watch themselves when they engage online with robotic interfaces," Sundar noted.

For the study, the researchers recruited 160 participants from Amazon Mechanical Turk, an online crowdsourcing website frequently used in studies.

The participants were asked to use either a human or a machine chat agent to find and purchase a plane ticket online.

After the agent returned the flight information, it prompted the participants for their credit card information.

The presence of a machine agent on the interface served as a cue for triggering the ingrained belief that machines are superior.

People with a high degree of trust in machines only need subtle design indications that they are interacting with a machine.

"In all of this, one thing I would like to stress is that the designers have to be ethical. They should not unethically try to extract information from unsuspecting consumers," Sundar stressed.

The findings were shared during the "ACM CHI Conference on Human Factors in Computing Systems" held in Glasgow from May 4-9.

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Agencies
February 29,2020

Ahmedabad, Feb 29: The presence of two feral pigeons onboard a GoAir flight at the airport in Ahmedabad in Gujarat created a flutter among the amused passengers, even though the avian surprise did not lead to any untoward incident or delay in the flight.

The incident took place on Friday when the passengers were boarding the Ahmedabad-Jaipur flight.

"Two pigeons had found their way inside the flight G8 702 while the passengers were boarding," an airline statement said on Saturday.

"The crew immediately shooed away the birds. The flight took off at its scheduled time at 5 p.m.," it added.

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Agencies
March 10,2020

New Delhi, Mar 10: Crisis-hit Yes Bank on Tuesday said that it has enabled inward IMPS and NEFT services.

The move allows people to send money from other bank accounts to their Yes Bank account through IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) mode.

In a tweet, the bank also said that Yes Bank customers can pay their credit card dues and loan obligations from other bank accounts.

"Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation. @RBIA @FinMinIndia," said tweet.

Last week Yes Bank was placed under moratorium and a withdrawal cap of Rs 50,000 was imposed till April 3.

The administrator of Yes Bank, Prashant Kumar and Rajnish Kumar, the Chairman of the State Bank of India are hopeful that moratorium would be lifted within a week.

As per the Reserve Bank of India (RBI) draft reconstruction scheme for the crisis-hit private lender, the SBI will take up 49 per cent in the bank by investing Rs 2,450 crore.

The new board of directors will stand constituted from the appointed date. It will comprise a CEO and MD, non-executive chairman and non-executive directors. The SBI will have nominee directors appointed on the board of the reconstructed bank.

The RBI may appoint additional directors to the board, who shall continue in office for one year, or until an alternate board is constituted by Yes Bank.

The SBI will not reduce its holding below 26 per cent before completion of three years from the date of infusion of the capital.

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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