This California-based Startup, ‘Credo AI’, is Bringing a Responsible AI Platform to Build a Fair, Compliant, and Auditable AI Model

AI leads the world, but it also has some limitations, including fairness, privacy risks, energy consumption, security flaws, transparency, etc. A solution to these issues must combine technology and cultural perspectives. Many firms are having trouble putting their AI ideas into reality and figuring out what “good” looks like for their AI systems while standards, benchmarks, and precise regulatory requirements are still in the early stages of development. The oversight required to stop AI from acting in ways that are not intended has not yet been provided by manual, scalable AI governance, which exposes businesses to high risks.

Founded in 2020, Credo AI is trying to solve these problems with its Responsible AI platform that helps companies manage risks and ensures fair, compliant, and auditable AI. By choosing from use-case-driven Policy guardrails, Credo AI assists cross-functional teams in coordinating Responsible AI needs for fairness, performance, transparency, privacy, security, and more based on business and legal context.

Data scientists may quickly evaluate models and produce outcomes for governance review within the Credo AI app using their open-source Responsible AI Assessment Framework called Credo AI Lens. Through technical evaluations of ML models, datasets, and questioning of development processes, the platform also makes it simple for teams to determine whether their AI use cases meet those requirements.

The company’s mission is to help organizations create AI with the highest ethical standards. With Credo AI, any technical and business infrastructure is topped with an intelligence layer that converts technological artifacts into risk and compliance scores.

The company recently announced to have raised $12.8 million in a Series A funding round led by Sands Capital, with participation from existing investors Decibel VC and AI Fund. With this round, Credo AI intends to expand on its product vision in RAI Governance and Open Source RAI assessments and continue assisting its clients in adapting to global AI standards and regulations.

References:

  • https://www.crunchbase.com/organization/credo-ai
  • https://www.credo.ai/
  • https://www.bizjournals.com/sanfrancisco/inno/stories/fundings/2022/05/17/credo-ai-seriesa-funding-venture-capital.html
  • https://www.prnewswire.com/news-releases/credo-ai-announces-the-worlds-first-responsible-ai-governance-platform-301532527.html
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Consultant Intern: Currently in her third year of B.Tech from Indian Institute of Technology(IIT), Goa. She is an ML enthusiast and has a keen interest in Data Science. She is a very good learner and tries to be well versed with the latest developments in Artificial Intelligence.