Credo AI Emerges from Stealth to Help Organizations Build Ethical AI
SAN FRANCISCO, Oct. 20, 2021 -- Credo AI publicly launched the world's first comprehensive governance platform for Artificial Intelligence. As AI adoption continues to grow at a breakneck pace, so do troubling examples of unfair algorithms, inscrutable models, and AI systems that are not aligned with human values. These failures represent an enormous problem and undermine public trust in AI. Companies are struggling to govern the AI systems they deploy. To solve this problem, the Credo AI platform provides tools that help companies ensure their AI systems and machine learning models are aligned with ethical, regulatory, and business requirements.
Credo AI is a single platform for managing compliance and risks of AI deployment at scale. Credo AI uses a context-sensitive risk framework to help organizations deploy scalable, responsible AI systems faster and with greater confidence. With Credo AI, organizations are able to understand where their AI applications, ML models, and processes are falling short. The upshot is efficient AI development, transparency at every stage from system design to production monitoring, a continuous view of risks and compliance, and trustworthy AI systems that can be held accountable.
Credo AI was founded in 2020 by Navrina Singh and Eli Chen, inspired by the mission to help organizations build AI aligned with human values. Navrina is a 20-year product veteran of Microsoft and Qualcomm, an executive board member of the Mozilla Foundation guiding its trustworthy AI charter, a Young Global Leader with the World Economic Forum, and a former member of the Global Council of AI guiding policies and regulations in responsible AI. Eli is a seasoned engineering leader from Netflix and Twitter. Credo AI has raised $5.5M to date in total funding from Decibel, AI FUND, and Village Global.
"Companies are weaving AI into the fabric of modern life. But its tremendous power comes with tremendous risks, from demographic bias to failing to comply with emerging regulations. To scale AI responsibly, you need to understand and manage those risks," said Navrina Singh, founder and CEO of Credo AI. "With a comprehensive AI governance platform, organizations can earn customer and stakeholder trust. The organizations that prioritize positive impact and responsible development of their AI systems will ultimately be the leaders of the AI revolution. We want Credo AI to be their partner in serving humanity responsibly through AI."
Credo AI standardizes AI governance using multi-stakeholder alignment to define governance requirements. It provides model assessment and audit tools, as well as a centralized repository of governance artifacts, to measure progress towards those requirements. The platform tracks models, policies, processes and accountable stakeholders in an auditable record that makes end-to-end governance a reality. It provides comprehensive auditability by recording the decisions that went into the creation, testing, deployment and monitoring of the AI applications. That record of governance can then be shared both internally and externally to develop and maintain trust with all stakeholders.
"As our society becomes more digital we are increasingly aware of the power of artificial intelligence to automate and augment our daily lives. But we are also aware of the potential for unintended consequences if these systems are not purposefully designed. Now is the time to ensure that trust, integrity, and ethical standards are a part of every AI system. Credo AI makes this possible for the first time," said Jon Sakoda, Founder of Decibel VC and Credo AI Board Member.
Unlike MLOps tools, Credo AI bridges the gap between the technical tools of machine-learning practitioners and the ethical, regulatory, and business requirements that define the production environment. With its focus on the risks unique to AI systems, Credo AI helps fill a growing need for AI-specific governance tools.
"AI governance should be at the top of a company's AI strategy aligned with business objectives, especially as existing and emerging AI regulations and policies make the governance process even more complex," said Ritu Jyoti, Group Vice President of the Worldwide AI and Automation Research Practice at market intelligence leader IDC. "Credo AI rises to the occasion and makes governance seamless by keeping organizations ahead of new AI rules, centralizing information and decision-making, and involving stakeholders beyond traditional data science teams to support AI assurance and trust."
The Credo AI platform moves beyond technical oversight alone. It brings together stakeholders from across an organization to participate in AI governance, establishing trust and transparency within the organization, within the larger regulatory environment, and within the AI solutions and machine learning models themselves.
The company is already serving customers across the public and private sectors—including multiple Fortune 500 companies, ranging from finance to retail and high tech.
About Credo AI
Credo AI delivers AI governance and oversight to ensure compliant, trustworthy, fair and auditable development and use of AI. Credo AI's Intelligent SaaS empowers enterprises to measure, monitor and manage AI introduced risks at scale. Founded in 2020, Credo AI lighthouse customers include one of the largest cloud providers, a Fortune 500 Global financial services, one of the largest defense contractors among other Global 2000s. Credo AI is a venture backed by top tier investors including Decibel, AI fund and Village Global.
Source: Credo AI
