Credo AI announces new features to bring transparency through comprehensive assessment and reporting

Credo AI announces new features to bring transparency through comprehensive assessment and reporting

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New Enhancements Will Help Organizations Meet Growing Regulatory and Customer Demands for Transparency and Build Trust in Critical AI Systems

SAN FRANCISCO, November 3, 2022 /PRNewswire/ — Credo AI, the governance company that operationalizes Responsible AI, today announced the general availability of new assessment and reporting capabilities in its Responsible AI Governance Platform. These enhancements will make it easy for companies to meet new regulatory requirements and customer demands for governance artifacts, reporting and disclosures about their development and use of AI, with a focus on assessment. and documenting responsible AI issues such as fairness and bias, explainability, robustness, security, and privacy.

(PRNewsfoto/Credo AI)

Credo AI’s intelligent SaaS platform enables companies to measure, monitor and manage the risks introduced by AI at scale.

This release is the latest software addition from Credo AI that helps companies manage AI risk and compliance at scale. The new feature set enables organizations to standardize and automate responsible AI issue reporting across all their AI/ML applications.

These features were developed in response to the growing demand for transparency and documentation of AI systems from regulators, customers and consumers. Increasingly, the world demands to know how AI systems behave, especially when it comes to issues such as fairness and bias. Upcoming regulations such as New York City The Algorithmic Hiring Act and EU AI Act will soon require organizations that build, buy and use AI to conduct regular assessments or audits of their AI tools and publish reports to the audience intent. Recently, the White House also presented a plan for an ai bill of rights which provides guidance on designing, using, and deploying AI. And last month, the House of Representatives Science, Space and Technology Committee held a hearing on AI risk management where technology leaders including Credo AI Founder and CEO Navrina Singh discussed the need for context-driven governance and transparent reporting.

Credo AI enables customers to comply with upcoming regulations and respond to their customers’ questions and concerns about the AI ​​systems they offer and implement. The platform is already used by Fortune 100 companies in the financial services, insurance, high-tech, aerospace and defense industries, who use it to generate governance artifacts and reports on the fairness, performance and governance of their AI systems to share. with customers and regulators.

The product update also includes platform integration improvements with Aim Creed AIan open-source responsible AI assessment framework, to enable programmatic technical assessments of fairness and bias, explainability, robustness, security, and privacy of models and sets of ML data, significantly reducing the reporting and documentation burden of responsible AI on technical teams.

“Credo AI builds the layer of governance that will allow organizations to ensure that all of their internal and third-party AI meets business, regulatory and ethical requirements,” said Navrina Singh, Founder and CEO of Credo AI. “This release of the product is the next step in our journey to bring context-driven governance and accountability to AI. Not only will this solution help companies bring their AI into compliance, but also ensure that their AI works. in alignment with human-centered values.”

Credo AI’s latest product features were informed by conversations within the RAI ecosystem. Over the past two years, Credo AI has actively built a community of practice in RAI with stakeholders from the private, public and government sectors. Last week, Credo AI brought this community together at its first Responsible AI Global Summit to amplify the responsible AI movement globally, catalyze practical action, and bridge the gap between diverse stakeholder groups. stakeholders to collectively advance a future society and economy that will be positively impacted by AI. .

See the recordings of the Summit here. Join the Responsible AI Community Waitlist here.

To learn more, contact Credo AI at demo@credo.ai or visit our website at www.credo.ai.

About Credo AI
Founded in 2020, Credo AI is a venture-backed company whose mission is to empower organizations to deliver responsible AI (RAI) at scale. Credo AI brings context-driven governance and risk assessment to ensure compliant, fair, transparent, and auditable development and use of AI. Credo AI’s intelligent SaaS platform enables companies to measure, monitor and manage the risks introduced by AI at scale. Credo AI empowers organizations to build AI with the highest ethical standards, so they can reap its tremendous benefits while mitigating unintended negative consequences. Credo AI customers include AI first and Global 2000 in finance and banking, insurance, retail, defense and high technology. To learn more about Credo AI, visit: credo.ai.

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