Explainable AI technology (XAI)
Fujitsu Limited announced a strategic partnership with Informa D&B in Spain to introduce explainable AI technology (XAI) to the business and financial information sector and create new value.
With data on 7 million economic agents in Spain that are continuously updated by a team of more than 200 data processing and user service specialists, Informa is the industry benchmark company in Spain and Portugal for providing comprehensive commercial, sectorial, financial, and marketing insights on the local business landscape. More than 95% of the financial institutions in Spain rely on Informa as a dependable partner in the market for risk assessments of their business operations.
By incorporating explainable AI technology, our cooperation ushers in a new age of decision-making. With the help of this technology, Informa’s 4.5 million users in Spain will have quick and easy access to highly sophisticated data, greatly enhancing the calibre of business information solutions. Fujitsu and Informa are dedicated to bringing transformative innovation to the industry.
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According to the deal, Fujitsu will use explainable artificial intelligence (AI) technology to handle and analyze enormous amounts of data, classify it, and make precise predictions with complete transparency and visibility. In order to ensure compliance with the highest moral and legal standards established by the European Union, Fujitsu’s technology is built to guarantee trust and understanding at every stage of the process.
Addressing risk and fraud issues
The necessity to address risk and fraud challenges that are not exclusive to one industry has led to the formation of this partnership. It is essential to have explainable and advanced AI in a world where threats, such as financial fraud, have gotten more complex. Businesses must foresee, explain, and derive insights from a variety of financial fraud situations in order to reduce risks.
Explainable AI technology has an advantage over conventional AI in that it addresses the so-called “black box” phenomena in AI by providing the foundation for predictions and conclusions drawn by the technology, so fostering more comprehension, openness, and confidence. The technology reveals how choices are made, confirms predicted results, and reveals biases, outliers, and issues that need further research. This helps to increase the dependability of the outcomes while reducing the likelihood of bias or incorrect conclusions by ensuring that choices are made objectively and based on factual information.
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The adoption of explainable AI technology has a number of advantages, including enhancing AI performance and minimizing bias issues resulting from data quality assessments. Additionally, it provides auditable accountability and guarantees moral adherence to accepted industry norms. By fostering more openness, it aids in understanding why and how to spot risk or fraud and lowers successful failures.
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Words from Industry
Angeles Delgado, President of Fujitsu Spain, commented, “Fujitsu is very pleased to sign this partnership agreement with Informa D&B. Through it, an explainable artificial intelligence technology, XAI, will showcase its full potential to Informa’s 4.5 million users in Spain, which is a clear demonstration of what Fujitsu is capable of doing in a differential way.”
Juan Ma Sainz, CEO of Informa D&B points out that “for Informa, the challenge of applying XAI to models in which its Database is the essential element, constitutes a relevant milestone and a qualitative leap in the framework of the solutions we offer our clients. For us, innovation, reliability and transparency are essential elements in the construction of all our products and this project meets all these requirements.”
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