The White House in October released its blueprint for an AI Bill of Rights as more technology, data and automated systems hit the market, and guidance becomes more relevant than ever following the controversy around OpenAI’s ChatGPT.
“The AI Bill of Rights is super-relevant from here on out,” Chintan Mehta, chief information officer and head of digital technology and innovation at Wells Fargo, told Bank Automation News, noting the guide is especially timely as more large language models come to market — with ChatGPT as a glaring example.
According to the document released by the White House, “the AI Bill of Rights is a guide for a society that protects all people from these threats — and uses technologies in ways that reinforce our highest values.”
The document breaks out five guidelines for design, use and deployment of automation:
- Safe and effective systems;
- Algorithmic discrimination protections;
- Data privacy;
- Notice and explanation; and
- Human alternatives, consideration and fallback.
Mehta noted that in the wake of new AI tools, “There’ll be all these manifestations of these AI topologies, large language models, where it will become hard to differentiate unless we have a pre-structured way of approaching these go-to market models.”
To implement the new guidelines and ensure all five markers are being met, Mehta recommends ensuring that AI models are trained on large enough data sets to be accurate and do not have any built-in skews so as to avoid biases of any kind.
Before bringing an AI development to market, it is critical to ensure there is a fallback mechanism in place, Mehta said, referring to the fifth point in the AI Bill of Rights. “Whether it’s simple rules, whether it’s some committee which actually reviews things,” there should be a review within an institution in order to ‘agree the conclusion that this model is reaching is right.’”
Bank Automation Summit US 2023, March 2-3 in Charlotte, is a crucial event on automation technology in banking. Wells Fargo Chief Technology Officer Steve Hagerman will speak at the event. Learn more and register for Bank Automation Summit US 2023.
