China plans to use artificial intelligence to monitor public procurement and tenders. The new tools are designed to help uncover backroom deals and corruption, Reuters reported, citing published government guidelines.
You may also like: OANDA review: a powerful broker
AI as a supervisory tool for tendering procedures
Tools enhanced with AI should flag irregularities in tender and bid documentation and supervise the decisions of review committees. According to China’s National Development and Reform Commission and other authorities, the systems should also have “human” reasoning abilities so that they can make recommendations.
“The systems should look for suspicious signs of bid rigging and provide evidence to the relevant authorities enforcing discipline and laws,” the authorities said.
Don’t miss: Revolutionize your Forex trading with RoboMarkets
President Xi’s anti-corruption strategy
The new guidelines follow President Xi Jinping’s call last January at a meeting of the Central Commission for Discipline Inspection to strengthen anti-corruption tools. According to state television CCTV, one of the anti-corruption agency’s employees said that due to the large number of contracts, it is not possible to check each project individually, and this is where big data can help.
Last January, Feng Jiang, a state property administrator in eastern China, was detained after AI alerted authorities to possible misconduct in several public tenders. According to the charges, he accepted bribes of hundreds of thousands of yuan from bidders and brokered bribes to members of evaluation committees. In November, a court sentenced him to two and a half years in prison. President Xi declared a war on corruption in 2012, with Chinese authorities describing it as a serious violation of discipline and the law.
Read more: InvestaGO: Broker review
Source: ÄŒTK
