Credo AI emerged from stealth with an AI SaaS product that ensures AI/ML models align with ethical and government standards. The San Francisco-based startup offers a single platform for companies to manage compliance and risks of deploying AI at scale.
- The company publicly launched its product today after its 2020 founding by Microsoft vet Navrina Singh and veriph.ai founder Eli Chen.
- Its platform keeps an auditable record of the "creation, testing, deployment, and monitoring" of a company's AI applications.
- It achieves this through model assessment and audit toolkits and a repository of governance artifacts.
- Credo has raised $5.5M in funding so far from Decibel, AI FUND, and Village Global.
- Many companies are deploying AI without making sure it's used ethically and responsibly, according to a FICO/Corinium report.
- Out of 100 AI leaders surveyed in financial services, only 35% said their organization makes an effort to ensure they deploy AI in a way that's transparent and accountable.
- A majority of tech experts don't believe ethical AI will be incorporated into most AI systems by 2030.