FICO Wins Innovators 2023 Award from Global Finance for Blockchain in AI Model G… – Press Release

Blockchain for AI Model Governance tracks development, operationalization and monitoring of machine learning models to enforce Responsible AI practices

FICO has been named one of The Innovators 2023 for its use of blockchain to manage and monitor AI development. The 11th annual awards from Global Finance honor the world’s most innovative banks, most innovative fintechs, and the greatest financial innovations of the past year, as determined by a team of Global Finance editors and researchers.

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Developed and patented by FICO’s AI Innovation and Development team, Blockchain for AI Model Governance uses an immutable blockchain ledger that tracks end-to-end provenance of the development, operationalization and monitoring of ML models. The technology enforces the use of a corporate-wide responsible AI model development standard by organizations, and demonstrates adherence to the standard with specific requirements, people, results, testing, approvals and revisions. These are all tracked to an immutable blockchain to solidly demonstrate compliance with model development standards, compliance testing, and responsible AI. The AI model governance blockchain enables auditable AI requirements to support governance, regulators, monitoring, and remedy of production issues. This technology is used across FICO’s analytics teams, and is being made broadly available to FICO clients via FICO® Platform.

“This innovation was inspired by a need to ensure that data scientists and their corresponding organizations follow the defined responsible AI development standard supporting robust AI, interpretable AI, ethical AI, and auditable AI standards,” said Dr. Scott Zoldi, chief analytics officer at FICO and co-author of the patent. “This is used during the AI model development process – not a post-hoc process – and the AI model governance blockchain provides the essential metrics and…