Please complete the following assessment about Responsible AI practices
The black box nature of AI systems can make them difficult to explain. Recruiters are always accountable for ensuring that the decisions and recommendations made to their clients are transparent and explainable. If you are using AI are you confident that you can explain exactly the decisions you're making both to regulators, and to your customers?
Every Recruitment agency and recruiter needs to find the right balance between leveraging AI effectively, assuring safety and maintaining a personal touch if to maintain client trust. Are you confident that you have a clear framework in place that enables you to do this when using AI??
AI algorithms can perpetuate and exascerbate biases present in historical data potentially leading to discriminatory practices and liability. Recruiters need to constantly monitor and address issues as they arise. Are you confident that you are not discriminating now and that you are appropriately monitoring all AI over their lifecycles?
AI policy and governance must be defined and continuously managed. Upskilling and adapting the workforce capabilities might be required. Are you confident that you have a policy in place, accountabilities are clear, and that your workforce is appropriately supported?
Recruiting agencies need to be transparent in their use of AI. Recruiting involves collecting and analysing a lot of personal and financial data. Robust data protection and compliance with regulation is needed to protect sensitive data will be required. Do you make it clear to your customers and clients that AI is being used and then provide an ability to contestability and redress AI methodologies in your business?
The black box nature of AI systems can make them difficult to explain. Brokers are always accountable for ensuring that the decisions and recommendations made to their clients to ensure they are transparent and explainable. If you are using AI are you confident that you can explain exactly why the decisions are taken both to regulators, and to your customers.
Every Mortgage Brokerage needs to find the right balance between leveraging AI effectively and maintaining personal touch if to maintain client trust. Are you confident that you have a clear framework in place that enables you to do this?
AI algorithms can perpetuate and exascerbate biases present in historical data potentially leading to discriminatory practices and liability. Mortgage Brokers need to constantly monitor and address issues as they arise. Are you confident that you are not discriminating now and that you are appropriately monitoring all AI over their lifecycles?
AI policy and govermamce practices must be defined and continuously managed.Upskilling and adapting the workforce capabilities might be required. Are you confident that you have a policy in place, accountabilities are clear, and that your workforce is appropriately supported?
Mortgage Brokers need to be transparent in their use of AI. Using AI involves collecting and analysing a lot of personal and financial data. Robust data protection and compliance with regulation to protect sensitive data will be required. You MUST make it clear whether you are using AI or not, for what purpose, and you must provide contestability and redress methodologies on your site and in your business processes
Do you have measures in place to ensure that your AI system for lending and credit decisions is resilient to adversarial attacks and operates reliably under various conditions, including atypical or high-stress scenarios?
Can you provide clear and understandable explanations to customers regarding how your AI system determines creditworthiness and lending decisions?
Have you implemented measures to ensure that your AI system does not exhibit biases or discrimination against any specific groups, particularly in terms of gender, race, or socioeconomic status, when making lending decisions?
Do you have governance structures and accountability mechanisms in place to oversee the development, deployment, and continuous monitoring of your AI system used for lending and credit?
Do you have processes available for customers to contest or seek redress for decisions made by your AI system, and are these processes communicated to and accessible by your customers?
