Kevin Werbach speaks with Scott Zoldi of FICO, which pioneered consumer credit scoring in the 1950s and now offers a suite of analytics and fraud detection tools. Zoldi explains the importance of transparency and interpretability in AI models, emphasizing a "simpler is better" approach to creating clear and understandable algorithms. He discusses FICO's approach to responsible AI, which includes establishing model governance standards, and enforcing these standards through the use of blockchain technology. Zoldi explains how blockchain provides an immutable record of the model development process, enhancing accountability and trust. He also highlights the challenges organizations face in implementing responsible AI practices, particularly in light of upcoming AI regulations, and stresses the need for organizations to catch up in defining governance standards to ensure trustworthy and accountable AI models.

Dr. Scott Zoldi is Chief Analytics Officer of FICO, responsible for analytics and AI innovation across FICO's portfolio. He has authored more than 130 patents, and is a long-time advocate and inventor in the space of responsible AI. He was nomianed for American Banker's 2024 Innovator Award and received Corinium's Future Thinking Award in 2022. Zoldi is a member of the Board of Advisors for FinReg Lab, and serves on the Boards of Directors of Software San Diego and San Diego Cyber Center of Excellence. He received his Ph.D. in theoretical and computational physics from Duke University. Navigating the Wild AI with Dr. Scott Zoldi How to Use Blockchain to Build Responsible AI The State of Responsible AI in Financial Services