Credo AI Is Helping Companies In Achieving The Goal Of Ethical AI

October 20, 2021 | 2 minutes read

Credo AI launches an ethical AI platform, with the motive to empower organizations in developing and deploying responsible AI systems.

Credo AI has recently launched a comprehensive governance platform. It helps companies in ensuring that their AI systems and Machine Learning models are aligned with ethical regulatory and business requirements. Tech Crunch reports.

The Start-Up provides a control panel and tools to manage all the data the company is collecting as well as also suggests the organization about the controls they might not be using. Like the IEEE standards, which the companies can utilize to construct strong AI regulations. Furthermore, the context-sensitive risk frameworks generated by Credo, helps organizations in deploying scalable, responsible AI systems with greater efficiency and efficacy. The main reason for the development of this system is to ensure transparency at every stage and continuous monitoring of risks and compliance. 

Credo AI, now backed by $5.5 million worth of funding was originally launched in 2020 by Navrina Singh and Eli Chen, to aid the organizations in building AI systems aligned with human values. And honestly, the introduction of ethical practices in AI and ML technologies is the suppressing need of an hour mainly because of their exponential growth and increased use in almost every sector of society. 

From educational institutions to hospitals, AI and ML technologies have made their way because of their efficiency.  Other than this many businesses are employing AI technology to assess customer needs and for carrying out their other tasks. 

But recently, the ethical use of AI has become the topic of discussion all around the globe. Especially, after the big tech companies were found to have faulty algorithms causing problems for people. For instance, recently social media platform Facebook’s algorithms were termed gender-biased in relation to posting job advertisements. Earlier this year, the United Nations Commissioner for Human Rights Michelle Bachelet also urged to hold the AI-powered systems accountable to human rights standards. 

AI systems and ML models are now closely linked to the advancement of society. And the latest figures also suggest that the use of AI is not going to abort anytime soon. As the global AI market is expected to expand at an annual growth rate of 40.2% from 2021 to 2028 to reach USD 997.77 billion by 2028.