Eileen Yu, ZDNet ; AI ethics toolkit updated to include more assessment components
"A software toolkit has been updated to help financial institutions cover more areas in evaluating their "responsible" use of artificial intelligence (AI).
First launched in February last year, the assessment toolkit focuses on four key principles around fairness, ethics, accountability, and transparency -- collectively called FEAT. It offers a checklist and methodologies for businesses in the financial sector to define the objectives of their AI and data analytics use and identify potential bias.
The toolkit was developed by a consortium led by the Monetary Authority of Singapore (MAS) that compromises 31 industry players, including Bank of China, BNY Mellon, Google Cloud, Microsoft, Goldman Sachs, Visa, OCBC Bank, Amazon Web Services, IBM, and Citibank."
