For organizations to truly benefit from their investments in AI, it is imperative that customers trust the technology. The key to overcoming systemic social distrust in AI lies in addressing questions about its functionality from customers, regulators, and other relevant stakeholders. Implementing blockchain-based accountability offers a feasible and effective solution to this challenge.
FICO has successfully leveraged a private blockchain to streamline documentation and adhere to standards in model development. This innovative approach not only accelerated the time to market for AI and analytic innovations but also significantly reduced support issues and model recalls by more than 90%.
The successful implementation of this system was more of a people challenge than a technological one. FICO discovered that starting with established standards before developing the technology was crucial. They also emphasized the importance of creating a user-friendly system, iterating on small wins, creating repositories for storing large AI assets, and maintaining capable IT teams to handle the system’s maintenance demands.
