Audience-Dependent Explanations for AI-Based Risk Management Tools: A Survey

Hadji Misheva, Branka; Jaggi, David; Posth, Jan-Alexander; Gramespacher, Thomas; Osterrieder, Joerg (2021). Audience-Dependent Explanations for AI-Based Risk Management Tools: A Survey Frontiers in Artificial Intelligence, 4, pp. 1-9. Frontiers Research Foundation 10.3389/frai.2021.794996

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Artificial Intelligence (AI) is one of the most sought-after innovations in the financial industry. However, with its growing popularity, there also is the call for AI-based models to be understandable and transparent. However, understandably explaining the inner mechanism of the algorithms and their interpretation is entirely audience-dependent. The established literature fails to match the increasing number of explainable AI (XAI) methods with the different stakeholders’ explainability needs. This study addresses this gap by exploring how various stakeholders within the Swiss financial industry view explainability in their respective contexts. Based on a series of interviews with practitioners within the financial industry, we provide an in-depth review and discussion of their view on the potential and limitation of current XAI techniques needed to address the different requirements for explanations.

Item Type:

Journal Article (Original Article)

Division/Institute:

Business School > Institute for Applied Data Science & Finance
Business School

Name:

Hadji Misheva, Branka;
Jaggi, David;
Posth, Jan-Alexander;
Gramespacher, Thomas and
Osterrieder, Joerg

Subjects:

H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
T Technology > T Technology (General)

ISSN:

2624-8212

Publisher:

Frontiers Research Foundation

Language:

English

Submitter:

Branka Hadji Misheva

Date Deposited:

17 Aug 2022 10:00

Last Modified:

17 Aug 2022 10:00

Publisher DOI:

10.3389/frai.2021.794996

Uncontrolled Keywords:

explainable AI, responsible AI, artificial intelligence, machine learning, finance, risk management

ARBOR DOI:

10.24451/arbor.17289

URI:

https://arbor.bfh.ch/id/eprint/17289

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