Veritas Phase 1: fairness assessment methodology (concluded 6 Jan 2021)
Is this legally binding?
Guidance. Voluntary guidance. Best practice, not obligation, until a contract or a regulator cites it.
Phase 1 developed fairness metrics and an assessment methodology for two banking use cases: UOB and Element AI on credit risk scoring; HSBC, IAG Firemark Labs and Gradient Institute on customer marketing. Produced Veritas Documents 1-2 (methodology and case studies) plus open-source code.
From the source
“Phase 1 successfully concluded on 06 January 2021 and produced two white papers”
MAS Veritas page: Project Phases, Phase 1
What this connects to
3 relations. Official relations are the ones the source documents state; anything marked GAGE analysis is our reading, not an agency's.
Cites1
- InstrumentVeritas Initiative (MAS-led consortium)Guidance
Phase of the Veritas project
Cited by2
- ConceptVeritas use case: credit risk scoringGuidance
Phase 1 fairness methodology use case
- ConceptVeritas use case: customer marketingGuidance
Phase 1 fairness methodology use case
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