Author: Rik Chomko
Publisher: Forbes
Publication Year: 2022
Summary: The following article describes how, from an equity standpoint, artificial intelligence (AI) transparency is vital for preventing bias that has the potential to penalize protected classes or negatively impact a person’s well-being. From a business standpoint, it is becoming just as important. Across the nation and the globe, standards and legislation are emerging. Governments and customers alike desire more transparency in the algorithms behind technologies that make decisions affecting people’s lives. In the past, it has been challenging to regulate AI, but as use cases emerge, the possibilities for regulation are growing. For example, the Algorithmic Accountability Act and the European Union’s Artificial Intelligence Act are in the works. Fairness through awareness allows organizations to determine if their model performs equally well for all groups. Awareness requires organizations to know the “why” behind the algorithm and allows for increased explainability. Organizations should transition to a transparent approach to avoid potential lawsuits that arise with legislation, gain consumer trust, and do the right thing.