SAS to Integrate Viya analytics lifecycle framework with Veritas Toolkit for responsible use of AI
SAS Institute, a leader in analytics and AI, has collaborated with the Monetary Authority of Singapore (MAS)-led Veritas consortium to integrate and operationalize the Veritas toolkit with SAS Viya platform, with the objective of improving trustworthy artificial intelligence (AI) adoption in the financial services sector. The Veritas initiative is part of Singapore’s National AI Strategy which aims to provide financial institutions with a verifiable way to incorporate the principles of Fairness, Ethics, Accountability, and Transparency (FEAT).
The integration of SAS Viya analytics lifecycle framework with the Veritas toolkit enables assessing of fairness in analytical models by leveraging out-of-the-box natural language generation and workflow capability in SAS Viya.
SAS aims to support the Singapore National AI Strategy of increasing productivity through the adoption of AI and ensuring its benefits to businesses, creating new jobs through increased AI innovation activities, and increase societal acceptance and trust of AI and analytics within the financial community through sound AI governance.
“As a country, Singapore is making great strides in innovating its financial and fintech industries. We are honored to support MAS in implementing its AI strategy and achieving its vision to be a leader in deploying scalable, impactful AI solutions,” said Lim Hsin Yin, Managing Director (Singapore), SAS Institute. “We see this work as being very beneficial for financial institutions, given that regulatory and audit reports require both accuracy and timeliness in submissions.”
The SAS Viya framework extends beyond the fairness principle to other areas of AI governance including explainability, auditability, accountability, and transparency. SAS Viya also interacts with the open source to enhance automation and governance.
“The need for regulatory frameworks to capitalize on the promise of AI while mitigating its risks is not only important but urgent in these times. Both technology providers and regulators have a critical role to play to ensure that AI development is centered around people to ensure a positive impact on our society,” said Reggie Townsend, Chief Data Ethics Practice Officer, SAS Institute.
Being the only vendor recognized as a leader in Magic Quadrant for Data Science and Machine Learning Platforms for eight consecutive years by Gartner, SAS is looking to offer best-in-class capabilities to its customers by leveraging SAS Viya with MAS Veritas Toolkit and Open Source.