How the COVID-19 Pandemic is Accelerating the Need for Model Monitoring

Data models that predate the pandemic may not reflect today's business environment. It's time to give models a checkup to make sure they reflect current conditions. It's no secret that the COVID-19 pandemic has had an impact on nearly every facet of business operations, and organizations that depend on artificial intelligence (AI) and machine learning (ML) to automate business decisions and critical business processes have been particularly vulnerable. Thanks to dramatic changes in both the overall economic environment as well as specific consumer behaviors since the onset of the pandemic, AI/ML models in organizations of all sizes and in every industry have been rendered largely ineffective because the pre-pandemic data on which the models were trained is no longer relevant or predictive of current behavior. Once in production, a model's behavior can change if production data diverges from the data used to train it.