AI Explainability 'an Afterthought' at Banks, But Financial Theory Infusion Could Help
Eric Tham of the National University of Singapore said during the Innovation Exchange that explainability is an afterthought at banks when they develop their AI-driven models. Unsurprisingly, some bankers did not agree.
As financial firms increasingly turn to artificial intelligence for help with decision-making, and as these tools become increasingly sophisticated, ensuring that the users understand how the AI derives its outcome is becoming more difficult. And this idea of explainability is becoming top-of-mind for regulators.
Eric Tham, a senior lecturer at the National University of Singapore, contends, however, that it’s not explainability that is the greatest challenge for financial organizations using
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