Despite its potential to significantly reduce costs, DeepSeek, a new open-source generative AI, is facing scrutiny from Singaporean companies due to concerns about data security and AI biases. Major firms are implementing strict guidelines and urging a wait-and-see approach until the risks associated with DeepSeek are thoroughly assessed.
Companies in Singapore are adopting a cautious approach towards the utilization of DeepSeek, a cost-effective open-source generative AI tool, despite its potential benefits. Concerns regarding data security and potential biases within AI algorithms are prompting major firms, including banks, consulting agencies, and cybersecurity companies, to establish strict guidelines prohibiting employees from using DeepSeek for work purposes without thorough due diligence.
While DeepSeek has garnered significant attention for its performance and affordability, particularly in comparison to established players like OpenAI, Google, and Amazon Web Services, experts emphasize the need for comprehensive risk assessments before widespread adoption. DeepSeek's lower training cost (S$7.6 million) compared to the hundreds of millions invested by US tech giants has raised concerns about its competitive impact, leading to a drop in US tech stocks after its R1 model's release.The potential for data retention and leaks, as well as the possibility of biases in generated responses, are key areas of concern. Singapore-based AI consumer insights platform Ai Palette estimates that DeepSeek could reduce infrastructure costs by 40 to 60 percent, primarily in high-end computing chips required for large-scale LLMs. However, Hanno Stegmann, managing director and partner of Boston Consulting Group's AI team, advises waiting for a more thorough evaluation of DeepSeek's risks before utilizing the model. Several countries, including South Korea, Italy, and Australia, have restricted access to DeepSeek on government devices due to security concerns, mirroring restrictions imposed on ChatGPT in its early days.Lawyers and firms specializing in technology advise a precautionary approach, emphasizing thorough testing and legal risk assessments before allowing generative AI tools to handle sensitive client data. Several major companies, including OCBC Bank and UOB, have partnered with AI developers like Microsoft and OpenAI to create customized AI tools that ensure data security. These collaborations often include indemnity clauses that protect corporate users from legal risks.
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