Unite.AI

JULY 2, 2024

Navigating this new, complex landscape is a legal obligation and a strategic necessity, and businesses using AI will have to reconcile their innovation ambitions with rigorous compliance requirements. GDPR's stringent data protection standards present several challenges for businesses using personal data in AI.

AI Strategy 162

AI Strategy Explainability AI AI 162

Unite.AI

JANUARY 1, 2025

For example, an AI model trained on biased or flawed data could disproportionately reject loan applications from certain demographic groups, potentially exposing banks to reputational risks, lawsuits, regulatory action, or a mix of the three. The average cost of a data breach in financial services is $4.45

Explainable AI 140

Explainable AI AI AI Natural Language Processing 140

Unite.AI

JANUARY 20, 2025

Ensures Compliance : In industries with strict regulations, transparency is a must for explaining AI decisions and staying compliant. Helps Users Understand : Transparency makes AI easier to work with. Make AI Decisions Transparent and Accountable Transparency is everything when it comes to trust.

Explainability 113

Explainability Explainable AI AI AI 113

Unite.AI

OCTOBER 20, 2023

However, only around 20% have implemented comprehensive programs with frameworks, governance, and guardrails to oversee AI model development and proactively identify and mitigate risks. Given the fast pace of AI development, leaders should move forward now to implement frameworks and mature processes.

Responsible AI 283

Responsible AI Generative AI AI AI 283