MAS: “Fairness Metrics” to Aid Responsible AI Adoption in Financial Services
- Announced today that the first phase of the Veritas initiative a framework for financial institutions to promote the responsible adoption of AIDA
- These metrics will help financial institutions validate the fairness of their AIDA solutions in the two use cases
- More use cases identified in subsequent phases of the initiative
- Credit risk scoring to assess the credit worthiness of borrowers is a critical function of the financial services industry
- Given the large amount of customer data to analyse, financial institutions are increasingly employing AI tools for this purpose
- The consortium will publish a white paper documenting the metrics and release an open-source code to enable financial institutions
