AI governance is a hot topic and FICO’s chief analytics officer Scott Zoldi recently published an article in InformationWeek explaining why boards of directors need to pay close attention to artificial intelligence. According to Scott, “the increasing magnitude of AI’s life-altering decisions underscores the urgency with which AI fairness and bias should be ushered onto Boards’ agendas.”
To eliminate bias, boards must understand and enforce AI governance based on four classic tenets of corporate governance: accountability, fairness, transparency, and responsibility:
- Accountability is achieved only when each decision that occurs during the model development process is recorded in a way that cannot be altered or destroyed.
- Fairness requires that neither the model, nor the data it consumes, be biased.
- Transparency is necessary to adapt analytic models to rapidly changing environments without introducing bias.
- Responsibility is a heavy mantle to bear, but our societal climate underscores the need for companies to use AI technology with deep sensitivity to its impact.
Boards of directors that fail to embrace their responsibility to deliver safe and unbiased AI will be battered by regulation, a cornucopia of litigation and powerful AI advocacy groups. Board oversight and government regulation of AI is necessary. Governance, not best intentions, is what keeps companies honest.
Read the full article in InformationWeek:
Establish AI Governance, Not Best Intentions, to Keep Companies Honest