Automate AI Model Risk Management
Incorporate AI MRM into your existing processes to reduce risks, accelerate models to market and increase ROI on your AI investments
GOVERNANCE | RISK | COMPLIANCE...with efficiency, speed, and accuracy
What is AI Model Risk Management?
The function of Model Risk Management (MRM) is to provide assurance that models are well controlled and fit for purpose. It is an established practice for Financial Institutions around the world.
FAIRLY is leading the charge in incorporating best practices and regulatory requirements for AI Model Risk Management into the existing MRM framework for Financial Institutions in a rapidly-changing regulatory environment. At the same time, we are bringing this established MRM practice to other industries such as healthcare, education, hiring and retail to reap the benefits of Model Risk Management for AI for safer and faster models to market.
Automate MDR & MVR
Producing model development and model validation reports is time consuming but is required in existing financial regulations and upcoming AI regulations. FAIRLY eases the pain of documentation for your data scientists and model validators.
In addition to routine regulatory compliance testing, we incorporate additional tests that are unique to AI models to help your model validation teams ease into the world of AI model validation.
FAIRLY works with both in-house and third party models.
Ongoing Monitoring & Reporting
Existing AI monitoring and explanability tools are reactive debugging tools built for data scientists. FAIRLY's monitoring and reporting solution is built for your Risk and Compliance teams for proactive risk management