“I'm proud to announce this release of Fairly. It is the foundation of our Enterprise-ready model risk management solution that will serve today's data scientists and model validators, paving the way for massive innovation into automation techniques for model risk management,” David Van Bruwaene, Founder and CEO of Fairly AI.
Fairly’s award-winning AI Governance, Risk and Compliance SaaS solution for automating Model Risk Management embeds Model Risk Management into every step of the AI Model journey. The solution's unique features were designed and developed by a multi-disciplinary team - backed by industry and academic research and techniques including behavioral & cognitive science, ethics & philosophy, software architecture, finance (all three lines of defense) and data science.
New features and enhancements in the version 1.1 release include:
- AI Compliance Manager provides industry’s first Process-Based Explainability tool to capture micro decisions, comments and approval in real-time so all stakeholders in your organization can have up-to-date accountability and transparency as required by guidelines and regulations such as SR11-7, ALTAI, NAIC’s AI guiding principles, and EU’s proposed AI regulations.
- Documented AI Assistant provides pre-configured templates to put your Data Scientists and Model Validators on the right path for AI Governance, Risk and Compliance right out of the box.
- Flexible report building architecture allows organizations to customize existing templates and build new templates in house to drive consistent and repeatable reporting processes suitable for your organizational needs.
- Audit trail reports including data set and model versioning for Internal Audit as well as external regulators.
- User management with role-based access to allow control of segregation of duties as required by SR11-7 guidelines and proposed EU AI regulations.
- Customized rich text editor with scientific LaTex support to save time from tedious copy and paste tasks in Word docs for your Data Scientists and Model Validators.
- 65+ Compliance-as-Code and Ethics-as-Code tag controls in our AI Controls Library, taking the guesswork out of your Data Scientists and Model Validators, enabling more productivity by delivering continuous explainable model risk monitoring while incorporating behavioral and cognitive science techniques for ease of adoption.
- Enhanced Bias Inspector and monitoring provides evidence for continuous improvement as required by GDPR.
- Additional integrations with TensorFlow, PyTorch, Keras, Apache Spark, scikit-learn, XGBoost, ONNX and spaCy in addition to existing support for Python to allow your different delivery teams to work in their preferred development environments while still having a consistent process for AI Governance, Risk and Compliance.
Contact Colleen Carter, Account Director at email@example.com today to learn more or schedule a demo.
About Fairly AI
Fairly AI’s mission is to support the broad use of fair and responsible AI by helping organizations accelerate safer and better models-to-market. We offer an award-winning AI Governance, Risk and Compliance SaaS solution for automating Model Risk Management. Our enterprise-scale, API-driven productivity and risk management tools feature automated and transparent reporting, bias detection, and continuous explainable model risk monitoring, thus streamlining AI development, validation, audit and documentation processes across the three lines of defense for financial institutions around the world. Visit us at https://www.fairly.ai or follow us on Twitter and LinkedIn.