“Fairness Metrics” to Aid Responsible AI Adoption in
Financial Services
MAS News, 28 May 2020
The Monetary Authority of Singapore (MAS) announced today
that the first phase of the Veritas [1] initiative - a framework for financial
institutions to promote the responsible adoption of Artificial Intelligence and
Data Analytics (AIDA) - will commence with the development of fairness metrics
in credit risk scoring and customer marketing. These metrics will help
financial institutions validate the fairness of their AIDA solutions in the two
use cases. More use cases will be identified in subsequent phases of the
initiative.
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