Synechron

English

Language change icon for desktop
English  |  Dutch  |  French
/ / INSIGHTS

EXPLAINABLE AI: Striking the Right Balance for Financial Services

Authored by: Stephanie Deckers, Associate Consultant, Digital Innovation &
Transformation – Synechron The Netherlands

The financial services industry is going through a fundamental change. Technology is enabling firms to change the ways they operate and how they interact with customers, suppliers, partners and employees. The advancements in the use of artificial intelligence (AI) and machine learning (ML) is increasingly predominant throughout the financial services industry. AI is growing in its level of sophistication, complexity and autonomy, leading to great opportunities for business and society Along with the maturity of AI, new challenges arise such as explainability, accountability, and ethical standards. A key challenge is that many of the AI applications operate within ‘black boxes’, offering little insight into how they reach their outcomes. As a result, regulatory interest in AI is growing as is the need for AI to explain itself. In this article we examine general principles of the use of AI, stress the criticality of explainability and highlight the trade-off between prediction power and explainability.

 

Enter your details below to read the full article here.

/ / SUBMIT YOUR DETAILS

Enter your details to download this article for free.

Image CAPTCHA
Enter the characters shown in the image.

Disclaimer

Synechron, Inc. and/or its affiliates and group companies takes your privacy seriously. By providing your information, you are signing up to receive information about Synechron services and related marketing. Your personal data will be protected in accordance with Synechron's Privacy Policy. By filling out this form, you are giving Synechron your consent so that we may communicate relevant information to you via email, telephone, invitations, and other digital notifications. If at any time you would like to withdraw your consent or update your profile and preferences, you can do so by clicking here or by contacting us directly.