FICO Makes Artificial Intelligence Explainable with Latest Release of its Analytics Workbench

SAN JOSE, Calif. — September 12, 2018

Highlights:

• New explainable artificial intelligence toolkit (xAI Toolkit) meets customers’ increasing demand for industry-leading artificial intelligence that business users can understand
• Boosts decision performance by embedding predictive and prescriptive models directly into real-time business operations to create faster, more impactful business outcomes
• Intuitive user experience provides direct and immediate access to data and insights dynamically, as the AI learns
• Powered by the high-performance FICO^® Decision Management Platform, FICO^® Analytics Workbench™ can crunch data of any size and shape, and operationalize high performance analytics, machine learning and AI
• Leading analytics firm FICO today announced the latest version of FICO^® Analytics Workbench™, a cloud-based advanced analytics development environment that empowers business users and data scientists with sophisticated, yet easy-to-use, data exploration, visual data wrangling, decision strategy design and machine learning.

As new data privacy regulations shine a spotlight on AI and machine learning, the FICO Analytics Workbench xAI Toolkit helps data scientists better understand the machine learning models behind AI-derived decisions.

“As businesses depend on machine learning models more and more, explanation is critical, particularly in the way that AI-derived decisions impact consumers,” said Jari Koister, vice president of product management at FICO. “Leveraging our more than 60 years of experience in analytics and more than 100 patents filed in machine learning, we are excited at opening up the machine learning black box and making AI explainable. With Analytics Workbench, our customers can gain the insights and transparency needed to support their AI-based decisions.”

“Computers are increasingly a more important part of our lives, and automation is just going to improve over time, so it’s increasingly important to know why these complicated AI and ML systems are making the decisions that they are,” said assistant professor of computer science at the University of California Irvine, Sameer Singh. “The more accurate the algorithm, the harder it is to interpret, especially with deep learning. Explanations are important, they can help non-experts to understand the reasons behind the AI decisions, and help avoid common pitfalls of machine learning.”

Built for both business users and data scientists, the FICO^® Analytics Workbench™ combines the best elements of FICO’s existing data science tools with several open source technologies, into a single, cloud-ready, machine learning and decision science toolkit, powered by scalable Apache Spark technologies. The Analytics Workbench provides seamless and automated regulatory audit compliance support, producing the necessary documentation for internal review and external regulators.

The Analytics Workbench has been designed for users with a variety of skill sets, from credit risk officers looking for a consistent tool to data scientists and business analysts collaborating and working together to inform and enrich strategic decision making. With an intuitive interface, users can expect faster time-to-value, higher levels of productivity, and significant business improvements through analytically powered decisions.

For more information, click here.

For a demonstration of analytics workbench, click here.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com

FICO and Analytics Workbench are trademarks or registered trademarks of Fair Isaac Corporation in the U.S. and other countries.

Katie O’Connell
Sr. Director, Corporate Communications
FICO
510-621-9832
Katieoconnell@fico.com