3 Ways Using Explainable AI Could help your Business

3 Ways Using Explainable AI Could help your Business
Photo Credit: Outlook Money

AI (artificial intelligence) has found its way into numerous aspects of our lives. Many businesses see the benefits that different forms of AI can bring to their company.

Artificial intelligence is used for customer service, security, data retrieval, communication, and other important tasks. It’s nearly impossible not to interact with AI at some point in our technologically advanced world.

As time passes, more advanced forms of artificial intelligence that mimic human behavior, such as explainable AI, are making their way into our lives and businesses. Explainable AI seeks to build trust with humans by revealing the reasoning behind its decision-making processes.

But how could this advanced form of AI help your Business? Keep reading to find out!

#1. Remain Ethical and Unbiased

Explainable AI can help your company avoid bias and remain ethical by explaining its decision-making process and logic in a way that is understandable to the average person.

Although we would assume that computer programs would be unbiased, research shows this is not always the case. There have been several cases where software has shown biased assessments of individuals based on gender, socioeconomic status, race, or other factors.

For example, Pro Publica revealed that a computer program wildly used in courtrooms across the U.S. demonstrated bias against African Americans who committed crimes. The algorithm automatically predicted African American individuals as high risk and more likely to commit future crimes than their Caucasian counterparts, with no consideration for each individual’s criminal history. 

You may wonder how this relates to your business and how Explainable AI can help you avoid issues like this. Imagine using artificial intelligence software to hire employees or gather customer data for marketing and sales. Wouldn’t you like to understand why the program made certain choices? Wouldn’t you want to be reassured that the program is justified in its decision-making process without fear of being accused of bias or unethical hiring and business practices?

Explainable artificial intelligence will show you exactly how it arrived at its conclusions and demonstrate why it’s justified in its decision-making process. And, if there are bugs in the system, you’ll quickly be able to see them and fix them so that it complies with government laws and regulations.

#2. Boosts Productivity

Explainable AI makes it easier for you to monitor and adjust bugs in the system, which allows you to boost your productivity. Imagine how much you could accomplish with the ability to make decisions faster than ever before in almost all parts of your company!

This type of AI can assist with decision-making for:

The best part is that you’ll be able to trust the decisions your computer programs are making because you’ll be able to clearly see how they came to the conclusions they’ve made. Clarity and transparency are two hallmarks that make explainable AI an exciting asset for businesses.

#3. Increases Confidence

Perhaps the greatest benefit of all is the increased confidence that you, your employees, and your clients will have in your business and the AI used. The explanations given by your software programs will build trust and let people know that your company is ethical and unbiased. 

Additionally, it will allow your teams to feel better about following the recommendations provided by the computer software, creating a harmonious and productive relationship between AI and humans.

The Bottom Line

Many companies are gravitating toward this form of AI because they see its advantages. Your business can also benefit from explainable AI, creating a seamless relationship between humans and machines. 

Mitigate bias, boost productivity, and increase confidence by investing in explainable AI today!

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