"Managing machine learning model risk is of the utmost importance in heavily regulated industries such as finance; in particular, to manage potential risks due to bias/fairness, conceptual soundness, implementation, and model change control"Agus Sudjianto EVP, Head of Corporate Model Risk
- Explainable AI
Overview of the Challenge
Transparency, accountability, and trustworthiness of data-driven decision support systems based on AI and machine learning, or more traditional statistical or rule-based approaches, are serious regulatory mandates in banking, insurance, healthcare, and other industries. From pertinent regulations to increasing customer trust, data scientists and business decision-makers need to understand the challenges and opportunities with explainable AI.