NEW YORK, March 15, 2021 /PRNewswire/ -- The Deloitte AI Institute, a Center that focuses on applied Artificial Intelligence (AI) research, eminence and innovation across industries, today announced it is collaborating with Chatterbox Labs to develop Model Insights technology for Trustworthy AI, a Deloitte-branded solution that helps organizations address AI ethics by monitoring, updating and validating their AI models.
Deloitte's recent "State of AI in the Enterprise" third edition study of enterprise AI adopters, found that 95% of respondents expressed concerns around ethical risks for their AI initiatives. To help companies proactively address AI ethics, the Deloitte AI Institute developed its Trustworthy AI™ framework, which provides a guide for organizations on how to apply AI responsibly within their businesses and manage common risks and challenges related to AI ethics. Now, through its exclusive collaboration with Chatterbox Labs, Deloitte is operationalizing the Trustworthy AI framework with a new technology solution, Model Insights for Trustworthy AI. By continuously monitoring enterprise AI models, Deloitte's Model Insights delivers immediate insights that can uncover biases and vulnerabilities and allow organizations to validate that their AI models are ethical, trustworthy and fair.
"Rapid developments in AI have unlocked incredible opportunities for organizations globally. At the same time, more work is needed to ensure the ethical use of AI technology," said Beena Ammanath, Executive Director of the Deloitte AI Institute, Deloitte Consulting LLP. "Our Trustworthy AI framework guides organizations in developing appropriate safeguards and using AI in an ethical manner. Through our collaboration with Chatterbox Labs, our Model Insights technology solution can help our clients put the Trustworthy AI framework into action and mitigate the ethical risks associated with AI."
Deloitte's Model Insights solution is built on Artificial Intelligence Model Insights (AIMI) from Chatterbox Labs, a patented platform that delivers data and insights into enterprise AI models, enabling organizations to validate and understand their AI initiatives and help ensure they are operating fairly and ethically. Chatterbox Labs was named a 2020 Cool Vendor in Enterprise AI Governance by Gartner. Model Insights for Trustworthy AI will be available to Deloitte clients starting in April 2021.
"As organizations accelerate the adoption of AI technologies, it's critical to have controls and procedures in place to address ethical concerns," said Danny Coleman, CEO of Chatterbox Labs. "Our collaboration with the Deloitte AI Institute will provide Deloitte clients with deep insights into how their AI models are operating, so that they can mitigate ethical risks and validate their systems are trustworthy and fair."
Organizations across a wide range of industries, including financial services, government and public sector, and life sciences and health care, are accelerating their adoption of AI. Deloitte can provide these organizations with deep AI experience, along with a framework and technology to help ensure their AI initiatives are operating in an ethical and trustworthy manner.
The Deloitte AI Institute's mission is to support the positive growth and development of AI by connecting across all the dimensions of the AI ecosystem to help advance human-machine collaboration in the Age of With™, a world where humans work side-by-side with machines.
To learn more about the Deloitte AI Institute's work, collaborations and research, please visit our website.
About Deloitte Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 330,000 people worldwide connect for impact at www.deloitte.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.