UK data regulator urges business towards explainable AI - TechHQ

The Information Commissioner's Office (ICO) is putting forward a regulation that businesses and other organizations are required to explain decisions made by artificial intelligence (AI) or face multimillion-dollar fines if unable to. The guidance will provide advice such as how to explain the procedures, services, and outcomes delivered or assisted by AI to affected individuals. The report would detail the documentation of the decision-making process and data used to arrive at a decision. In extreme cases, organizations that fail to comply may face a fine of up to 4 percent of a company's global turnover, under the EU's data protection law. The new guidance is crucial as many firms in the UK are using some form of AI to execute critical business decisions, such as shortlisting and hiring candidates for roles. At the same time, two-thirds of UK financial services rely on AI to support customer services, drive business decisions and transactions.