How Does Your AI Work? Nearly Two-Thirds Can't Say, Survey Finds

Nearly two-thirds of C-level AI leaders can't explain how specific AI decisions or predictions are made, according to a new survey on AI ethics by FICO, which says there is room for improvement. FICO hired Corinium to query 100 AI leaders for its new study, called "The State of Responsible AI: 2021," which the credit report company released today. While there are some bright spots in terms of how companies are approaching ethics in AI, the potential for abuse remains high. For example, only 22% of respondents have an AI ethics board, according to the survey, suggesting the bulk of companies are ill-prepared to deal with questions about bias and fairness. Similarly, 78% of survey-takers say it's hard to secure support from executives to prioritize ethical and responsible use of AI.