In his blog aptly titled “Analytic Predictions 2018: 31 Flavors of AI,” FICO Chief Analytics Officer Scott Zoldi made the bold pronouncement that, among other things, 2018 will be the year that “AI will have to explain itself.” Indeed, as regulations such as the EU’s General Data Protection Regulation (GDPR) attempt to direct banks to explain their decision processes (including those produced by AI and ML systems), the heat is on to explain why decisions are being made.
As more decisions become automated – and the types of decisions that are being automated become more complex – the need to explain decisions will expand at a dramatic pace, and not just for regulatory reasons. In fact, as organizations across multiple industries laser-focus on shrinking profit margins and a drive to become more customer-centric, explainability becomes more than just a compliance exercise.
The need for explainability transcends beyond AI and automated decisions. Let’s take airlines, for example. If something drastic happens (no pilots being assigned to work during the holidays, a passenger dragged off a plane, or some other event), there has to be transparency into what happens next.
Even if human behaviors trigger an event, more often than not, you can surmise that there’s some kind of policy (analytic and/or algorithmic) behind the scenes trying to call the shots. Again, complexity – and the need for speed given the proliferation of channels requiring fast decisions – creates additional burden on businesses to explain the why, what and how behind every decision.
In our upcoming webinar titled “Unlocking the Full Potential of Your Business Outcomes with Explainable Decisions,” my colleague Fernando Jorge and I will discuss some of the strategies for unlocking explainability across the decision spectrum, highlighting the powerful capabilities we now offer with Decision Modeler (and the upcoming Blaze Advisor 7.5 release).
By breaking customer touch points down to a series of micro-interactions and then applying decision analysis to these activities, you can rapidly ramp up your explainability DNA. In the race to intelligent, automated and explainable decisions – powered by micro-interactions – this is a discussion you can’t afford to miss. Click here to register for this free webinar.