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MAS: “Fairness Metrics” to Aid Responsible AI Adoption in Financial Services | Fintech InShorts: Latest fintech news, analysis by experts

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MAS: “Fairness Metrics” to Aid Responsible AI Adoption in Financial Services

By Laura M

May 29, 2020

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

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