Have you ever wondered which machine learning models are running in your company and what their status is? As a responsible manager, do you really have the transparency you need given the accelerated use of AI and ML?
The application of AI and ML is becoming increasingly common in the financial industry, and with that comes the risk of using outdated models, double development, and unclear ownership of ML/AI components. All of this leads to reputational and financial risks due to malfunctioning or biased algorithms. Therefore, establishing a proper governance process will be a cornerstone of your successful long-term journey with AI and ML.
Below, you will find our thoughts on how a machine learning cockpit can serve as a first starting point to maintain an overview of all models within your company, including their status, ownership, and interdependencies.