With new data privacy regulations shinning a spotlight on AI and machine learning, FICO has launched the new version of FICO Analytics Workbench.
Analytics Workbench is a cloud-based advanced analytics development environment that empowers business users and data scientists with data exploration, visual data wrangling, decision strategy design and machine learning.
Due to new data privacy regulations, such as GDPR, the FICO Analytics Workbench xAI Toolkit will help data scientists better understand the machine learning models behind AI-derived decisions.
“As businesses depend on machine learning models more and more, explanation is critical, particularly in the way that AI-derived decisions impact consumers,” said Jari Koister, vice president of product management at FICO.
“Leveraging our more than 60 years of experience in analytics and more than 100 patents filed in machine learning, we are excited at opening up the machine learning black box and making AI explainable. With Analytics Workbench, our customers can gain the insights and transparency needed to support their AI-based decisions.”
Its new explainable artificial intelligence toolkit (xAI Toolkit) claims to meet customers’ increasing demand for industry-leading artificial intelligence that business users can understand. It boosts decision performance by embedding predictive and prescriptive models directly into real-time business operations to create faster, more impactful business outcomes.
Powered by the high-performance FICO Decision Management Platform, FICO Analytics Workbench claims to ‘crunch data of any size and shape’, and operationalise high performance analytics, machine learning and AI.
The Analytics Workbench has been designed for users with a variety of skill sets, from credit risk officers looking for a consistent tool to data scientists and business analysts collaborating and working together to inform and enrich strategic decision making.
Founded in 1956 and based in Silicon Valley, FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries.
It provides solutions for fraud & security, including enterprise security score, enterprise fraud, cybersecurity and fraud & security insights. The company also offers compliance solutions, including anti-money laundering, counter-terrorism financing, know your customer, tax compliance, business partner due diligence, compliance cloud, anti-financial crime solutions, CECL impairment management, and IFRS 9 impairment management.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
