REDWOOD CITY, Calif., March 29, 2022 (GLOBE NEWSWIRE) -- TruEra, which provides the first suite of AI Quality management solutions for AI explainability and model quality, announced today that it has been selected by Aboitiz Data Innovation (ADI), a part of the Aboitiz Group, to help drive machine learning model performance, explainability, and trustworthiness across the organization.
The Aboitiz Group’s listed entity Aboitiz Equity Ventures (AEV) is a multi-industry conglomerate with a market capitalization of over $6 billion USD. AEV has leadership positions in key Philippine industries, such as power, banking, food, real estate, and infrastructure. Its subsidiaries include the top two power generation companies as well as the top three banks in terms of profitability ratios, including the Union Bank of the Philippines. Its Data Science and Artificial Intelligence arm, Aboitiz Data Innovation (ADI), is leveraging the unique environment and ecosystem to unlock value for the group through the operationalization of Data Science and AI solutions.
“The Aboitiz Group has always been at the forefront of new technologies that can improve productivity, business value, and customer satisfaction,” said Dr. David R. Hardoon, Chief AI and Innovation Officer, the Aboitiz Group and Managing Director, ADI. “Responsible, high-performing AI is of utmost importance, and that is why we have selected TruEra as our AI Quality management partner for this major technology initiative.”
With a commitment to driving innovation with governance, ADI is leveraging TruEra's solutions in that pursuit. With a focus on innovation, research, and development in AI, ADI acknowledges that the better-performing AI models may be more complex and not easily explained (e.g., Deep Neural Networks). Ideally, ADI strives toward achieving high-performing AI models while also proactively driving for more explainability and transparency. This will allow ADI to consciously enlarge the scope of impact from AI.
Through the partnership with TruEra, ADI aims to develop responsible AI to reduce the risk of discrimination and increase transparency and trust in the use of AI while making business decisions. One example is ADI’s use of TruEra’s solutions in fintech lending to prevent bias and strengthen AI governance policies. With ADI’s drive to develop and operationalize new machine learning models across the different industries in which Aboitiz operates, ADI will use TruEra Diagnostics to evaluate and explain machine learning models, as well as to drive model performance improvements, ensuring that models meet internal performance benchmarks before they are approved for deployment.
This initiative builds on other work where ADI has been collaborating internationally with academia. One example is the published journal paper titled “Anti-discrimination Laws, AI, and Gender Bias: A Case Study in Non-mortgage Fintech Lending.”
“Forward-thinking technology leaders like the Aboitiz Group are aware that AI Quality management needs to be considered from the earliest phases of AI and machine learning application development,” said Will Uppington, CEO, TruEra. “We are inspired by their dedication to trustworthy, high-performing AI and are honored to have been selected as a key technology partner for the AI Innovation Lab. We look forward to helping the Aboitiz Group demonstrate how AI can bring value to a variety of industries, from banking to real estate and power generation.”
About Aboitiz Data Innovation
Aboitiz Data Innovation (ADI) is the Data Science and Artificial Intelligence arm of Aboitiz Group. ADI consolidates the Data Science & Artificial Intelligence operating model across the Group and promotes a data-driven culture across the organization. Its chief responsibility is to transform data into business outcomes, exploit information to make better decisions, reinvent business models, and develop high-value solutions to create new processes, products, and services.
About TruEra
TruEra provides the first suite of AI Quality solutions that help enterprises analyze machine learning, improve and monitor model quality, and build trust. Powered by enterprise-class Artificial Intelligence (AI) Explainability technology based on six years of research at Carnegie Mellon University, the TruEra platform helps eliminate the black box surrounding widely used AI and ML technologies. This visibility leads to higher quality, explainable models that sustainably achieve measurable business results, address unfair bias, and ensure governance and compliance. To learn more, visit truera.com.
Media contact:
Michelle Faulkner
Big Swing
617-510-6998
michelle@big-swing.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30773b70-8d71-4ab2-9439-7e93c7e93e8d
