Algorithm Integrity Matters: for Financial Services leaders, to enhance fairness and accuracy in data processing

Spoken (by a human) version of this article.

With algorithmic systems, an change can trigger a cascade of unintended consequences, potentially compromising fairness, accountability, and public trust.

So, managing changes is important. But if you use the wrong framework, your change control process may tick the boxes, but be both ineffective and inefficient.

This article outlines a potential solution: a risk focused, principles-based approach to change control for algorithmic systems.

Resource mentioned in the article: ISA 315 guideline for general IT controls.

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About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

The integrity of algorithmic systems goes beyond accuracy and fairness.

In Episode 4, we outlined 10 key aspects of algorithm integrity.

Number 5 in that list (not in order of importance) is Security: the algorithmic system needs to be protected from unauthorised access, manipulation and exploitation.

In this episode, we explore one important sub-component of this: deprovisioning user access.

Link from article: U.S. National Coordinator for Critical Infrastructure Security and Resilience (CISA) advisory. 

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

When we're checking for fairness in our algorithmic systems (incl. processes, models, rules), we often ask:

This article provides a basic framework for identifying and categorising these attributes.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

Legislation isn't the silver bullet for algorithmic integrity. 

Are they useful? Sure. They help provide clarity and can reduce ambiguity. And once a law is passed, we must comply. 

However:

• existing legislation may already apply
• new algorithm-focused laws can be too narrow or quickly outdated
• standards can be confusing, and may not cover what we need
• "best practice" frameworks help, but they're not always the best (and there are several, so they can't all be "best").

In short, they are helpful.

But we need to know what we're getting - what they cover, don't cover, etc.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

Even in discussions among AI governance professionals, there seems to be a silent “gen” before AI.

With rapid progress - or rather prominence – of generative AI capabilities, these have taken centre stage.

Amidst this excitement, we mustn't lose sight of the established algorithms and data-enabled workflows driving core business decisions.  These range from simple rules-based systems to complex machine learning models, each playing a crucial role in our operations.

In this episode, we'll examine why we need to keep an eye on established algorithmic systems, and how.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

In a previous article, we discussed algorithmic fairness, and how seemingly neutral data points can become proxies for protected attributes.

In this article, we'll explore a concrete example of a proxy used in insurance and banking algorithms: postcodes.

We've used Australian terminology and data. But the concept will apply to most countries. 

Using Australian Bureau of Statistics (ABS) Census data, it aims to demonstrate how postcodes can serve as hidden proxies for gender, disability status and citizenship.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

When we talk about security in algorithmic systems, it's easy to focus solely on keeping the bad guys out.

But there's another side to this coin that's just as important: making sure the right people can get in.

This article aims to explain how security and access work together for better algorithm integrity.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

Fairness in algorithmic systems is a multi-faceted, and developing, topic.

In episode 4, we explored ten key aspects to consider when scoping an algorithm integrity audit.

One aspect was fairness, with this in the description: "...The design ensures equitable treatment..."

This raises an important question. Shouldn't we aim for equal, rather than equitable treatment?

This episode aims to shed light on the distinctions between equal and equitable treatment in algorithmic systems, while acknowledging that our understanding of fairness is still developing and subject to ongoing debate.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

In Episode 1, we explored the challenges of placing undue reliance on audits.

One potential solution that we outlined is a clear scope, particularly regarding the audit objective.

In this episode, we focus on algorithm integrity as the broad audit objective.

While it’s easy to assert that an algorithm has integrity, confirming this assertion is a bit more complex.

To help simplify this, this episode breaks it down into a set of key areas to consider.

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Spoken (by a human) version of this article.

AI and algorithm audits help ensure ethical and accurate data processing, preventing harm and disadvantage.

However, the guidelines are not yet mature, and quite disparate.

This can make the audit process confusing, and quite daunting - how do you wade through it all to find the information that you need, in deciding how to commission your audit?

Fortunately, there is a solution - narrowing the guidelines down, based on relevance.

Not all existing guidelines are universally applicable. This can vary based on your situation, including:

1. The specific context of your industry
2. The nature of your deployment
3. The characteristics of the system being audited
4. Whether the audit is internal or external
5. Who produces the guidance and for whom it is intended

This article will help you distinguish between audit guidance that applies to your situation and guidance that may not be relevant to your industry, deployment, or organizational needs.

https://riskinsights.com.au/blog/audit-guidance-context-matters

To subscribe to the weekly articles: https://riskinsights.com.au/blog#subscribe

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).