By: Raquel Trigo

No one doubts the transformative power of innovation. Innovation, when fostered in a responsible and inclusive manner, is key to addressing social challenges and generating positive change for all.

International agencies like IDB Lab are obliged to take a proactive stance in the pursuit of innovation, especially in relation to artificial intelligence (AI) and the establishment of standards and regulations for its use. In doing so, we ensure that innovation is not only innovative, but also ethical and inclusive.

At IDB Lab we promote creativity with responsibility; we recognize the importance of fostering ecosystems where innovation is not only driven but also guided by ethical considerations. Through initiatives such as fAIr LAC we develop frameworks, tools and best practices that are aligned with international standards, thus promoting transparency, equity, and accountability in the implementation of AI. Initiatives such as fAIr LAC, fAIr LAC 3S and fAIr Venture favor the construction of solid ecosystems that enable the responsible development of AI-based solutions and the consolidation of a growing portfolio with initiatives that incorporate tools to prevent and mitigate risks derived from AI.

In addition, the open innovation call for gender and artificial intelligence that we launched from IDB Lab to find and support solutions in our region that use AI to help reduce bias and discrimination based on sex or gender clearly shows our commitment to inclusion and to that much-needed proactivity. The success of the call offered us an overview of the enormous potential of our region in designing projects to reduce inequality gaps, such as:

• Quipu: A marketplace for people working in the informal economy that uses AI-driven alternative credit risk scoring. This solution is actively working to reduce gender bias in credit allocation.
• Jobecam: A video platform that helps companies optimize their processes and reduce unconscious bias in talent selection through AI-powered anonymous videos and resumes. This solution, a pioneer in the development of anonymous video selection technology in the world, aims to reduce gender bias in recruitment.
• Quantil: A consulting firm that is working on automating its algorithmic auditing tool, especially to ensure fairness and transparency of different types of models, including generative ones.

Innovation is not without its challenges, and the rapid advancement of AI-based technology requires us to deploy our full attention to prevent unintended consequences. Through active collaboration, knowledge sharing and a commitment to prioritizing equity and transparency, we can navigate the complexities of AI innovation responsibly and move towards a future where AI innovation contributes to improving lives.

Promoting creativity is at the core of IDB Lab, but always guided by the principle that innovation should not only break barriers, but also improve communities and generate positive change for all in Latin America and the Caribbean. Let this International Day of Creativity and Innovation serve to reaffirm our commitment to fostering inclusive and responsible innovation that ethically drives the development of our region.