June 22, 2023
Risk management in AI is a central concern in intelligent enterprise decision-making. According to a study by the Multidisciplinary Publishing Institute (MDPI), AI transparency and effectiveness had a significant impact on employees' trust in AI-driven decisions.
According to the study, more transparency in AI decision-making enhanced perceptions of its efficacy, which in turn increased trust. In contrast, a lack of transparency led to unease and a subsequent decline in confidence.
AI systems base their decisions on training data. Poor governance and controls can lead to biased, inconsistent, or unreliable AI decisions. This is the critical point where AI trust is at stake.
Companies now need to concentrate on fostering AI confidence by making sure their AI systems are understandable, transparent, and fully compliant with both their internal standards and outside regulations from state, regional, and international governing bodies.
Solutions like Konfer can help businesses by automatically mapping, measuring, and managing their entire AI ecosystem.
1. Mapping — allows you to obtain a global view of your AI assets and their interrelationships. With a unified view, stakeholders can collaborate more effectively to identify high risk applications on which controls have to be applied and risk mitigated.
2. Measuring — enables you to aggregate the use and outcomes of all AI assets in the inventory subject to controls. Konfer evaluates AI solutions with industry defined standards, guidelines, and quantified factors such as fairness, robustness, security, and performance to estimate your exposure to additional business risks.
3. Managing — empowers all stakeholders to drive actions by initiating reports, incidents, and cases. With complete visibility of AI assets and the knowledge graph, all stakeholders can manage their business metrics as outcomes of a trusted AI solution.
Konfer prioritizes visibility at all stages of AI/ML development by systematically mapping, measuring, and managing your AI ecosystem. As a result, Konfer enables businesses to adopt a Governance by Design approach to their development and procurement process for AI solutions, so they can take a proactive approach to compliance. It enables businesses to improve AI traceability and understanding, empowering business leaders to focus on innovation while managing AI-powered decision-making with clarity and maintaining a competitive edge.
Schedule a demo with us today to discover how Konfer can assist you in achieving AI Visibility, Governance, and Confidence in your AI development and adoption process.