AI, short for artificial intelligence, has been gaining prominence in many industries and aspects of life due to its ability to automate complex processes while being cost-effective. From automated business processes to personalized recommendations on streaming services, AI technology has become an integral part of day-to-day life.
However, this comes with a crucial caveat: to properly benefit from the advances in AI technology, we must ensure fairness and equity among those who use it or are affected by it. This means we must strive to create fair AI that is not impacted by bias or illogical assumptions—a task easier said than done.
That said, what does fair AI truly mean?
Fair AI seeks to address the issue of algorithmic bias, which is when biased data or assumptions are used to inform decisions. In essence, it can be defined as bias embedded in technology applications and systems that use automation, such as artificial intelligence and machine learning.
An algorithmically biased system will always provide biased results according to the bias built into it, putting certain groups at a disadvantage. For example, an algorithm used to measure creditworthiness may yield higher interest rates for black borrowers than white borrowers with the same financial backgrounds.
The potential consequences of algorithmic bias can be immense, so we must look for measures of fairness implementation when designing algorithms and ensure our decisions are free from prejudice.
Creating fair algorithms is a difficult task and requires thorough evaluation to identify any potential biases that may be present in the data or assumptions used. AI algorithms must be tested against real-world scenarios with diverse data sets to ensure that they are able to account for the nuances of human behavior.
Businesses that implement AI can convince users and customers of their trustworthiness by emphasizing transparency, taking measures to validate the accuracy of algorithms, providing information about any biases present in data used for training, and promoting accountability.
Additionally, businesses should ensure that those responsible for creating algorithms are experienced professionals with a sensitivity to fairness issues.
AI Fairness 360 is an open source toolkit that helps businesses check for biases, audit their algorithms, and improve fairness of AI-based decisions. Machine learning models are increasingly used to guide important decisions about people.
AI Fairness 360 helps overcome the challenge of model bias and allow data scientists to measure, understand, and mitigate discrimination in machine learning models. This is a step towards building trust with users and customers. More importantly, it avoids placing certain privileged groups at an advantage and poorly representing underprivileged groups in the data.
Ensure fairness in AI with the help of VirtuousAI. We offer auditing services to inspect and analyze algorithms, data sets, and AI systems for bias. By utilizing tools such as AI Fairness 360 and seeking expert advice, businesses can take the necessary steps to create and promote fair AI. Get started today.