Fostering transparency in AI decision-making processes is crucial for building customer trust, and blockchain-based accountability can provide a solution to this problem.
Organizations seeking to reap real business benefits from their investments in artificial intelligence (AI) must first address a critical challenge: customer trust. Systemic social mistrust in AI can only be dissolved when questions about how this technology works are answered by customers, regulators, and other stakeholders.
The Problem with AI
In recent years, organizations across industries have rapidly deployed AI to inform decisions that affect people’s daily lives. However, AI often reflects the biases and moral flaws of its creators, leading to unfortunate and even tragic mistakes. The complexity of AI has earned it a reputation as a “black box” with a trust problem.
The Trust Problem
According to Pew Research, 52% of Americans are more concerned than excited about AI in their daily lives, compared to just 10% who say they are more excited than concerned. This mistrust stems from a lack of transparency and accountability in AI decision-making processes.
Blockchain-Based Accountability
Using blockchain-based accountability provides an attainable path to operationalizing accountability and enforceability. FICO developed a private blockchain that automated documentation and standards in model development, speeding up its time-to-market with AI and analytic innovation while reducing support issues and model recalls by over 90%.
Lessons Learned from Implementing Blockchain
While implementing blockchain-based accountability was less of a technical challenge than a people one, FICO learned several key lessons. These include the importance of starting with standards before developing technology, making the system user-friendly non-negotiable, iterating on quick wins, and building repositories to hold large AI assets in alternate storage.
The Future of Trust in AI
By leveraging blockchain-based accountability, organizations can begin to address the trust problem associated with AI. This approach has the potential to increase transparency, reduce bias, and improve decision-making processes. As the use of AI continues to grow, it is essential that organizations prioritize building customer trust through the implementation of blockchain-based accountability.
