Trust in AI needed to boost adoption

SINGAPORE,July 8,2021 --PwC Singapore and responsible artificial intelligence firm,BasisAI,are collaborating in a bid to increase trust in the use of AI through a Responsible AI framework and platform that aims to increase the level of transparency and understanding of AI,which in turn could help spur wider adoption of the technology in Singapore.

Said Mark Jansen,Data Trust Services Leader,PwC Singapore:

"AI has the potential to transform businesses and the world-at-large but critical challenges such as explainability,bias,ethics,accountability and security remain. These expose businesses to potential regulatory and reputational risks. I believe this collaboration can help address the trust gap we are seeing in the market,which in turn could help accelerate wider-scale adoption of Responsible AI."

Furthermore,operationalising AI governance throughout the AI lifecycle also involves stakeholders across disciplines,often with different technical backgrounds. This makes shared understanding and action difficult.

In response to these existing challenges,the PwC-Basis AI collaboration will combine PwC's deep trust expertise,governance methodologies,industry experience with Basis AI's Bedrock platform that accelerates deployment of machine learning solutions to provide oversight,control,and infrastructure management - critical areas to accelerate and govern AI deployment.

"Bedrock provides the fundamental technical building block for deploying and accelerating a sound AI strategy," said Mr Liu Feng-Yuan,CEO and Cofounder of BasisAI. "It is a cloud-based platform-as-a-service solution that enables scalable AI deployment with in-built explainability,maintainability,and auditability. Together with PwC's Responsible AI framework,enterprises can build AI solutions that deliver business results in a trusted manner - from strategy to execution."

PwC Singapore and BasisAI have also launched a report to help organisations get a better foundational understanding of where to start with Responsible AI. Titled 'Build trust in AI to accelerate its adoption at scale',the report covers developments around AI regulations,how businesses can maintain compliance and operationalise governance of AI,have greater oversight and control and enable transparency with stakeholders and clients.

About PwC

At PwC,our purpose is to build trust in society and solve important problems. PwC is a network of firms in 155 countries with more than 284,000 people who are committed to delivering quality in assurance,advisory and tax services. Find out more and tell us what matters to you by visiting us atwww.pwc.com.

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About BasisAI

BasisAI,a technology company headquartered in Singapore,is on a mission to build well-governed,trustworthy AI systems with its world-class,experienced team of AI leaders and practitioners. Through its proprietary Bedrock system,Basis AI provides a machine learning platform that orchestrates the prototyping to production cycle in minutes,not months,enabling enterprise customers to make a real-world impact with a long-term competitive edge.

For more information,visit the company website: https://basis-ai.com/.