Creating safe, fair and transparent AI systems has become crucial for businesses. AI offers the potential to enhance customer experiences, streamline internal operations, prevent fraud, and automate compliance processes. However, ensuring integrity when deploying complex AI ecosystems requires good governance standards and metrics. To effectively manage the AI lifecycle, including technologies like machine learning (ML), natural language processing, robotics, and cognitive computing, organizations such as JPMorgan Chase are implementing best practices known as ModelOps.
ModelOps involves establishing the right policies, procedures, and controls for developing, testing, deploying, and monitoring AI models. This ensures compliance with regulatory and ethical standards, according to Stephanie Zhang, JPMorgan Chase’s general manager of ModelOps, AI, and ML Lifecycle Management. Given that AI models rely on obscured data and are influenced by many changing factors, then assertive continuous compliance is essential to meet regulatory requirements and establish clear ownership and accountability.
While stringent governance efforts safeguard AI and ML applications, it is equally important for enterprises to foster innovation. This can be achieved by defining well-structured metrics to monitor AI models, providing extensive education to stakeholders, involving all parties in the development of AI/ML solutions, and building integrated systems. Zhang emphasizes that establishing a culture of responsibility and accountability is crucial, ensuring that everyone involved understands the significance of their actions in producing AI solutions.
Enterprises must prioritize building fair and transparent AI systems. Implementing ModelOps practices helps ensure governance and compliance, creating a solid foundation for deploying and managing AI ecosystems. By encouraging innovation through well-defined metrics, education, stakeholder involvement, and integrated systems, organizations can drive responsible and accountable behavior in the development of AI solutions.
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