MAS completes first phase of AI ethics initiative
‘Veritas’ aims to tackle bias in AI-driven financial services
The Monetary Authority of Singapore says it has successfully completed the first phase of its ‘Veritas’ initiative, which is seeking to tackle biases in artificial intelligence-driven financial services.
Alongside an industry consortium – including banks, insurers, and tech firms such as Amazon and Google – the MAS has developed a method of validating the fairness, ethics, accountability and transparency (Feat) of AI-driven credit risk scoring and customer marketing. The group has released open
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