Explainability
Definition
Explainability is the ability to describe, in terms a person can understand, why an AI system produced a particular output, and which inputs and factors drove it.
Why It Matters
Firms must be able to explain automated decisions to customers, auditors and supervisors, particularly in credit, claims and pricing.
More in AI Governance and Regulation.
Related Terms
- AI governance
- EU AI Act
- NIST AI Risk Management Framework
- ISO/IEC 42001
- AI risk management
- High-risk AI system
- Human in the loop
- AI audit
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