What are the keys to safely and responsibly operationalizing AI in your business? At FICO World 24, Dr. Scott Zoldi, chief analytics officer at FICO, explored this issue in his keynote address.

The road to AI implementation is fraught with challenges. Studies show that most AI models are never put into operations. One of the primary hurdles organizations face is algorithm selection. With a plethora of algorithms available, selecting the right one requires careful consideration of factors such as data complexity, interpretability, and scalability. Transparency and auditability have also come to the fore, as businesses need to be able to explain how they are making decisions, and what their AI models are doing.

Trust is key for success with AI. That means that transparency is more important than ever.
Organizations must communicate openly about how AI models work, the data they use, and the limitations of their predictions. Interpretability ensures that AIdriven decisions are understandable and explainable to stakeholders. By providing insights into how AI models arrive at conclusions, organizations can build trust and confidence among users.

Dr. Zoldi also discussed the emergence of Generative AI, which has further complicated AI deployment, while seemingly making it easier than ever. FICO is among the leaders in making Gen AI operational in a responsible way, with FICO Platform.

#genai
#aiforgood
#aiplatform
#responsibleai

00:00 Introduction by Darcy Sullivan
1:01 Challenges in operationalizing AI
2:45 FICO history of operationalizing AI
4:29 Changes and opportunities with AI
5:27 0 How Gen AI and large language models work
7:02 Concerns about large language models and bias
8:09 How banks are approaching Gen AI
9:06 What’s next for operationalizing AI
10:47 Responsible AI and FICO Platform
11:36 Trust and AI
13:09 Regulation and AI
14:38 Keys to Responsible AI
16:17 FICO’s use of blockchain for Responsible AI


ABOUT FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com