AI Insights, June 2020
Denmark introduces mandatory legislation for AI and Data Ethics
As the first country in the world, Denmark will introduce mandatory company legislation for AI and Data Ethics. This legislation will force companies in the online space to release public information about their data ethics policies. If asked, they must provide information on which algorithms companies use in their platforms and prove that these algorithms live up to transparency requirements.
The new legislation will come into effect on the 1st of July 2020, meaning that all affected companies will have to comply with AI and Data Ethics by 2021. Companies will have a chance to share algorithmic information in their year-end reports, and can even be subject to receiving fines on a daily basis for not complying with the law.
The result of such legislation will effectively compel companies to create and define data ethics statements that concretely tie transparency, explainability, and, hopefully, bias mitigation into their company brand.
This is good news for consumers and business clients, who will now receive increased levels of transparency and insight. No more shadow AI or hidden agendas!
It’s time for an ethical AI agenda
To follow through with an ethical AI agenda, companies will need to take specific actions, and actively change projects and deployed models to ensure the required level of transparency.
Moving forward, the approx. 1,300 Danish companies affected will need to start reworking their organizations to include transparency. Listing algorithms and data ethics statements are no longer enough. Companies need to understand the impact of their existing and new projects and models and translate their data ethics statements into tangible metrics to measure each model and project.
Companies need to take concrete action to follow the new law for AI projects and model development.
2021.AI and AI ethics
One comprehensive solution to support this is 2021.AI’s GRACE AI Platform, which provides tangible metrics for transparent and explainable AI and effective measures and controls of these metrics continuously.
At 2021.AI, we believe that this work cannot be undertaken by using pen and paper or lots of excel sheets, especially if you want to be an AI-driven company or already have projects and models in production.
2021.AI’s GRACE AI Platform allows companies to create tangible metrics for transparent and explainable AI (or other disruptive technology), link these metrics to your data ethics statements, and continuously measure and control these metrics.
With GRACE, you are effectively creating a turn-key solution to AI governance and compliance in your company that needs minimal work effort once applied to your projects, models, and business.