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New software could make it easier to “adopt and trust” AI systems that set insurance premiums

Dec 05, 2017

New software developed at the University of Waterloo (UWaterloo) in Ontario could make it easier to adopt and trust powerful artificial intelligence (AI) systems that set insurance premiums, generate stock market predictions and assess who qualifies for mortgages, the university said in a press release on Friday.

The software is designed to analyze and explain decisions made by deep-learning AI algorithms, providing key insights needed to satisfy regulatory authorities and give analysts confidence in their recommendations.

“The potential impact, especially in regulatory settings, is massive,” suggested Devinder Kumar, lead researcher and a PhD candidate in systems design engineering at UWaterloo. “If you can’t provide reasons for their decisions, you can’t use those state-of-the-art systems right now.”

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