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What are best practices for Explainable AI in Regulated Industries

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Answer

When working with Explainable AI in Regulated Industries, start with a clear goal, test on real data early, keep the approach as simple as possible at first, and follow established practices from the AI community rather than guessing.

Real-world example A bank uses explainable AI techniques to satisfy regulations requiring clear reasons for denying a customer's credit application.

Common follow-ups: What is Explainable AI (XAI), How is Explainable AI in Regulated Industries evaluated in practice, What tools are commonly used for Explainable AI in Regulated Industries

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