While the headline does the catch the eye – and largely reflects similar executive takes we covered in Issue 7 – many of the finer stats captured in this write-up on a survey conducted by Corinium Intelligence and FICO tell us more about ML/AI Governance and monitoring of production environments. Only 39% of organizations are pursuing AI governance programmatically. Core governance capabilities like bias mitigation during model development are only pursued by 38%, while only a third have independent model validation teams. A stark majority of organizations (57%) seem to have no responsibility to report even to internal stakeholders about the performance of their consequential systems. For production models making decisions today, only a fifth (20%) are monitored for fairness and ethics.
Clearly, a large number of companies are taking on extraordinary and unnecessary risk by not governing and monitoring their systems. That said, respondents expect change, since the lack of monitoring is slowing AI adoption (90%) and responsible AI will be a strategic focus in the next 2 years (63%).