What Does Explainable AI Mean for Your Business?

Artificial intelligence (AI) has turned into a highly pervasive technology, and it has been incorporated in a wide array of industries across the globe. The tough competition in the market and success stories surrounding AI adoption are among the few major factors that compel more and more enterprises to adopt AI in various aspects of their business.
Machine learning (ML), the key component of AI technology, has become powerful to the level of displaying superhuman capabilities on most human tasks. However, this superhuman performance comes with higher complexity in the AI and ML models, turning them into a “black box,” a decision-making model too complex to be understood by humans.
Today, ML models are deployed to replace human decision-making in areas ranging from driving cars to the prevention of crimes to advertising. They are also employed in decision-making in investments, loan approvals, and hiring employees. The decisions made by these black box systems have the potential to influence business decisions and impact many lives. Thus, they come with severe ramifications.
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