“The AI software told banks to deny millions of legitimate purchases, at a time when consumers had been scrambling for toilet paper and other essentials.
The company said a global group of 20 analysts who constantly monitor its systems recommended temporary adjustments that avoided a blockade on spending.
The team is automatically alerted to unusual buying activity that could confuse the AI, relied on by 9,000 financial institutions overall to detect fraud across 2 billion cards”
The use-case brings to forefront the need for AI monitoring – a growing market with ML Ops to ‘catch AI drift’
McKinsey & Co found that most organizations surveyed are not regularly monitoring AI-based programs after launching them.
Reminds me of a review a long time ago, when I presented a paper titled, ‘AI is not magic’ 🙂
Have you come across situations when AI is sought out as a ‘catch-all’ to solve problems?
Additional reading and sources : here
McKinsey report : here
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