Responsible AI, FEAT & Veritas - Dr. Li Xuchun AI Development Office, FinTech & Innovation Group, MAS - Telecom Paris
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Responsible AI, FEAT & Veritas
Dr. Li Xuchun
AI Development Office,
FinTech & Innovation Group, MAS
Agenda
1 Responsible Use of AI and DA, FEAT
2 Veritas Background
3 Veritas Phase One
4 Veritas Phase Two Plan
2
1. Responsible use of AI and DA, FEAT
Why are we concerned with the
responsible use of AI and DA?
“What all of us have to do is to make sure
we are using AI in a way that is
for the benefit of humanity,
not to the detriment of humanity.”
- Tim Cook, CEO, Apple
FEAT Principles
Fairness Ethics
With data, there are Are there are certain
infinite possibilities of lines that should not
what we can do. be crossed?
But, should we?
Accountability Transparency
Do we understand To what extent
how data-driven should explanations
decisions are made? be given for data-
Who bears the driven decisions?
responsibility and risks
of these decisions?
5
Examples of the FEAT Principles
Fairness Ethics Accountability Transparency
• Ensure that • Use of AIDA is • Internal •Disclosure of
individuals or aligned with accountability AIDA use to data
groups are not firm’s ethical to the firm’s subjects
systemically standards, values stakeholders
disadvantaged and codes of (management, •Provision of clear
through AIDA- conduct Board) explanations on
driven decisions data used to
unless these • AIDA-driven • External make AIDA-
decisions can decisions held to accountability driven decisions
be justified same ethical to data subjects and how it
standards as impacts them
• Regular review human-driven
of models and decisions •Provision of clear
AIDA-driven explanations of
decisions to how AIDA-driven
minimize bias decisions impact
and ensure data subjects
models behave as
designed
6
2. Veritas Background
7
Global AI Governance Landscape
Nov 2018 Feb 2019 May 2019 Nov 2019 Hong Kong Apr 2021 Hong Kong
Singapore Japan OECD HKMA High-level The State of Ethical AI in Hong Kong
MAS FEAT Social OECD Principles on Artificial
Principles Principles Principles Intelligence Apr 2021 European Commission
of Human- on AI Proposal for a Regulation laying
Centric AI Nov 2019 Australia down harmonised rules on artificial
AI Ethics Framework intelligence
Apr 2021 U.S. Federal Trade
Commission guidance on AI
Mar 2021 Korea Financial Services
Commission announces a new
policy framework on insurance
business
Jan 2019 Apr 2019 EU Jun 2019 China
Singapore Ethics Governance
Mar 2021 The five largest federal
IMDA Model guidelines Principles for the
financial regulators in the United
AI for New Generation
States released a request for
Governance trustworthy Artificial
information on how banks use AI
Framework AI Intelligence
8
Veritas
Challenges Objective
Practical implementation of FEAT Creating a standardized and modular
principles: Fairness, Ethics, implementation methodology of FEAT
Accountability and Transparency. principles and programming open
source code
Consortium Impact
Development of responsible and
Formation of industry consortium inclusive financial services by using
to develop Veritas to validate AI AI and Machine Learning in a
models against FEAT responsible way
9
3. Veritas Phase One
10Scope of Veritas Phase One in 2020
Veritas was announced at 2019 Singapore FinTech Festival as part of Singapore National
AI Strategy by DPM.
Veritas phase one: focus on fairness principles of FEAT.
Veritas phase one: two banking use cases were selected which are credit risk scoring
and customer marketing.
11Phase One Deliverables : Whitepapers and Python
Open Source Code
Whitepaper to document the generic Whitepaper of use case studies for credit
methodology to assess the fairness for AIDA risk scoring and customer marketing.
system.
Python code for Credit Risk Python code for Customer
use case Marketing use case
12A Comprehensive Five-part Methodology to Assess Alignment
with FEAT Fairness Principles
A Describe system objectives and context
B Examine data and models for unintended bias
AIDA System Developer
C Measure disadvantage
AIDA System Deployer AIDA System Assessor D Justify the use of personal attributes
E Examine system monitoring
13Veritas Fairness Assessment Flow
Decide on Complete Address
Define scope of Adapt Gather required
measures and analysis and feedback and
assessment assessment information
metrics review report on results
Choices of Self-assessment
Fairness All information
Fairness measure and report and External
assessment Part required to
assessment Part metrics and feedback from reporting
A questions complete
B-E questions justifications for internal
assessment
those choices stakeholders
14Veritas Programming Open Source Code
154. Veritas Phase Two
16Plan of the Veritas Phase Two in 2021
SCOPE DELIVERABLES
Lead Members Use Cases 01 CONSOLIDATED WHITEPAPER
FAIRNESS
Insurance Underwriting
Technical Technical Technical
Document 1 Document 2 Document 3
Lead Members Use Cases (Fairness) (Ethics & (Transparency)
Accountability)
ETHICS &
• Customer marketing (Banking)
ACCOUNTABILITY
• Fraud detection (Insurance)
02 TECHNICAL DELIVERABLES
Lead Members Use Cases
Source Code 1 Source Code 2
TRANSPARENCY • Credit risk scoring (Banking) (Fairness) (Transparency)
• Customer marketing (Banking)
17Veritas Consortium Members in the Phase Two
LEAD MEMBERS MEMBERS (FIS) FACILITATORS ADVISORY MEMBERS
Drive the Veritas development Provide domain knowledge & Facilitate the whole program Provide expertise & review the
of the use cases feedback on the use cases whitepaper
18Thank you!
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