Moving Beyond Principles – Addressing AI Operational Challenges.
Date: February 1 2022
This paper explores the current state of artificial intelligence and machine learning (AI/ML) adoption by examining how AI/ML is being used by financial institutions and the different governance approaches they are adopting to manage AI/ML risks. The paper delves into three challenges that organizations face when deploying AI/ML, bringing in perspectives of practitioners, academics, and technologists to share their experience, provide insights into current thinking, and offer practical guidance on how to deploy AI/ML effectively and safely.
This paper begins where Safeguarding AI Use Through Human Centred Design, the first white paper issued by the Canadian Regulatory Technology Association (CRTA) in May 2020 leaves off. The initial paper examined the risks introduced by artificial intelligence (AI) systems and how they are being managed during the product development life cycle.
This paper was written by Donna Bales with contributions from the following member firms: Natalia Bailey, Formerly Policy Advisors, Institute of International Finance (IIF), Dr. Fiona Browne, Head of Software Development and Machine Learning, Datactics, Stephanie Kelley, PhD Management Analytics, Smith School of Business, David Van Bruwaene, CEO, Fairly AI, Adam Leon Smith, Chief Technology Officer, Dragonfly, Steve Sweetman, Principal Program Manager, Responsible AI Engineering, Microsoft, Patricia Thaine, CEO and Founder, Private AI.