News  |    |  February 21, 2020

Bankers embrace new guidelines for ethical AI

News article by Tom Groenfeldt.
Published in American Banker.

Excerpt:

IBM has outlined principles to promote transparency — and foster public trust — in the way companies use artificial intelligence. The principles call on banks and other organizations to designate a lead AI official, own up to their use of the technology, explain it and test it for bias. Bankers say they’re already on it.

IBM unveiled the principles last month at Davos through its new IBM Policy Lab. The goal was to provide guidance for developing intelligent policy that will provide societal protections without stifling innovation. The company says it hopes its approach will “hold companies more accountable, without becoming over-broad in a way that hinders innovation or the larger digital economy.”

IBM Chief Executive Ginni Rometty, speaking to a standing-room-only crowd at Davos, apologized for the shortage of chairs — the company had not anticipated such interest. [ . . . ]

IBM’s principles for ethical AI

  1. Designate a lead artificial intelligence ethics official
  2. Set different rules for different risks
  3. Don’t hide your AI
  4. Explain your AI in a way that consumers can understand
  5. Make sure your AI systems are fair and secure