In the world of artificial intelligence, the quest for precision has become a standard every industry seeks for.
Nonetheless, as AI systems progressively infiltrate essential areas of society, the industry has started taking note that accuracy alone is never enough.
A budding body of research opined that AI models, in spite of their impressive capabilities, can exacerbate and even intensify biases present in the data they are trained on.
These problems are not just random technical difficulties, but an ethical concern. The importance of mitigating bias in AI models to ensure fair and justifiable outcomes in real-case scenarios cannot be overstated.In practical terms, this involves several key steps and methodologies to identify, address, and reduce bias throughout the AI development lifecycle.
One of the pertinent challenges I have tackled is the problem of data bias. Data bias happens when the training data for an AI model showcases reoccurring inequalities or prejudices, resulting in biassed results.
For example, a credit scoring model might be unintentionally biassed towards social groups from socio economic background if the training data majorly includes such groups.
I have been useful in the aspect of identifying these biases and integrating remedial actions. I advocate for robust methods for data collection, guaranteeing diverse data for AI training. This entails not only curating a variety of data sources while evaluating their quality and relevance.
In addition to data bias, I discussed extensively the role algorithms play in fairness. Despite having impartial data, AI models have the potential to yield biassed outcomes if the algorithm is not developed with fairness considerations. Even with unbiased data, AI has the ability to produce results if the algorithms themselves are not tailored with fairness in mind.
As a front runner in the tech industry, I have championed the use of equity focused algorithms, which are specifically designed to reduce uneven effects on diverse groups. This is important in the fintech industry because they make decisions based on AI system output for example loan approvals or fraud detection can have deep impacts on individuals life.
Another important aspect of my work is the consistent monitoring and evaluation of AI models after deployment. I genuinely believe that an AI model’s fairness cannot be fully achieved at the development stage only.
Once deployed, these systems engage with intricate and real world settings, possibly leading unanticipated biases. The team I oversee at interswitch have integrated complex monitoring frameworks to identify the performance of AI models in real time.
They evaluate key metrics to identify any signs of bias and take swift corrective actions when needed. This methodology ensures that the models maintain fairness and equity throughout their lifespan.
My commitment towards ethical AI transcends technical driven solutions, I am an advocate of accountability and transparency in AI development.
I believe that organisations have an ethical duty to explain how their systems operate and decision making processes behind them.
This transparency promotes trust among individuals and stakeholders, making it simple to address concerns related to fairness and bias.
Moreover, I actively engage academic institutions, industry leaders and regulatory bodies to ensure best practices in AI are maintained.
I often share my knowledge in conferences, workshops and panel sessions on how to reduce AI bias. My contributions to the tech industry have been broadly acknowledged and I have also become a revered authority in the discussion of ethical discussion.
My role at Interswitch showcases a comprehensive strategy in AI development, one that transcends beyond conventional accuracy benchmarks.
My commitment to evaluating and reducing bias in AI models guarantees that these systems yield fair and just outcomes in practical implementation.
The groundwork has been laid for a future where AI serves as a tool for positive social change,rather than a perpetuator of existing differences.
This effort highlights the potential of AI to bridge gaps, enhance accessibility, and drive equitable outcomes across diverse communities. The idea has shifted towards leveraging AI technologies to empower marginalised groups, ensuring that the benefits of AI are shared widely and equally.
About the writer:
Folashade Oluwatosin is a Senior Data Scientist with expertise in advanced data analytics, machine learning, and statistical modeling. She has successfully implemented data-driven solutions in various fintech and automobile companies, enhancing operational efficiencies and customer experiences. Known for her proficiency in scientific tools like Python, R, and SQL, Folashade excels in transforming complex data into actionable insights. Her strong leadership abilities have enabled her to lead cross-functional teams, driving innovation and fostering a culture of continuous improvement.
