Michael Natusch, Global Head of AI at Prudential, is concerned about the lack of transparency in AI algorithms. He believes that the use of black box models, which don’t allow for understanding of their inner workings, is a significant issue. Natusch suggests that businesses should be able to explain how an AI model works and why it makes certain decisions.
He also highlights the importance of using AI responsibly and ethically. For instance, an AI model could inadvertently discriminate against a certain demographic due to biases in the data it was trained on. Natusch advocates for the implementation of AI ethics committees within companies to address these issues.
Natusch further emphasises the need for companies to have a clear AI strategy. He advises that AI should not be used for its own sake, but rather to solve specific problems. He also stresses the importance of collaboration between the business and technology teams, noting that the most successful AI projects are those that are closely linked to business objectives.
Finally, Natusch warns against the overreliance on AI, stating that it is not a panacea for all business problems. He suggests that companies should focus on the problems they are trying to solve, and then determine whether AI is the best tool to use.
Go to source article: https://diginomica.com/2018/03/15/prudentials-global-head-ai-algorithm-use/