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Conscious computing: Rethinking business strategy with responsible AI front and center

by Nayya Marketing April 25, 2024

Conscious computing: Rethinking business strategy with responsible AI front and center

This article was contributed by Monitaur, Nayya's AI Governance partner.

As technology evolves and influences the way we live and work, the adoption of artificial intelligence (AI) has become increasingly prevalent. In the world of employee benefits and HR technology, companies are leveraging immense amounts of personal data alongside machine learning and AI capabilities to provide innovative solutions for their clients.

However, with great power comes great responsibility.

At Nayya, we prioritize governing with responsible AI practices throughout our modeling systems by continuing to invest in making them safe, resilient, and trustworthy.

What exactly is responsible AI?

Before we get too far into why and how we facilitate our responsible AI practices, we should clarify what responsible AI is. It refers to the ethical and transparent use of AI while planning for and mitigating the potential risks and impacts on individuals and society.

This means measuring and addressing factors like model and algorithmic bias — decisions that could negatively impact the user — as well as enabling model explainability and transparency around the systems and human factors that influence AI model development.

Responsible AI is about more than compliance with regulations and contracts. It also elevates the practices and decisions that drive quality and performance checks into the model development lifecycle, contributing to positive outcomes for everyone involved, especially the consumers of AI.

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Adapted from the Cross Industry Standard Process for Data Mining (CRISP-DM), a process model that serves as the base for a data science process. It has six sequential phases.

Although AI can introduce risk in many ways, three of the most prevalent areas of concern for risk mitigation are: Strategy: The model or entire modeling system not delivering on its intended business objectives Regulatory: Discrimination against protected classes Reputational: Consumer backlash due to perceived unethical use of algorithms and models

Groundbreaking technologies require a modern approach to governance

For benefits and HR technology companies, responsible AI practices are critical for managing and reducing risks such as potential misuse or discrimination. With access to vast amounts of personal health information and data, Nayya is committed to mitigating exposures to such risks throughout our journey to revolutionize the employee benefits experience.

By implementing a consistent and coherent approach to governance with Monitaur, we continuously assess and mitigate model risk across our products. The impact of following responsible AI practices also extends across our internal teams, improving process efficiencies.

By adhering to technical and industry best practices, Nayya can confidently provide the best products and outcomes for customers while knowing that the algorithms in the modeling systems are fair, transparent, and unbiased.

Dionna Jacobson, Sr. Data Scientist at Nayya, had a vision for their rigor as well as governance across their entire model development lifecycle.

Monitaur’s software and expertise is foundational to Nayya’s AI governance approach — directly enabling greater transparency, improving processes, and increasing trust across our teams. By streamlining model development processes and ensuring the team is adhering to best practices, we build confidence in our responsible AI approach,” explains Jacobson.

This will leave a lasting impact on our organization and our partners, clients, and end-users — increasing trust in that our recommendations are accurate and ethical.

Building consumer trust in AI products

We know that employee benefits brokers and consultants are continually asked by employers “How can my employees trust technology, especially AI, as it continues to advance?” when it comes to considering HR technology investments.

A big part of the answer is by ensuring the technology organization(s) are investing in responsible AI practices. These trusted advisors should be able to confidently bring innovative solutions to their clients, knowing that there are multiple layers of visibility and accountability to maintain quality and mitigate risks.

Employers, in turn, can trust that they are using a solution that's been thoroughly vetted and can communicate the cautionary steps taken into consideration for their workforces, bringing the trust and confidence full-circle when it comes to AI.

Responsible AI is crucial for employee benefits and HR technology companies. By prioritizing ethical and transparent model development practices, companies can mitigate risks, build trust with key stakeholders, and improve process efficiency. As the use of AI continues to grow, companies must take their role in AI governance seriously and prioritize responsible and ethical practices.

At Nayya, we are committed to investing in responsible AI to provide the best solutions for our clients and build trust with our stakeholders.

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