According to the press release dated June 26, The Veritas Toolkit is the first responsible AI guideline developed specifically for the financial industry, in which version 1.0 was released in February 2022 with a focus on assessing fairness.
The Monetary Authority of Singapore (MAS) has announced the second version of an open-source toolkit for the responsible use of artificial intelligence (AI) in the financial industry.
Led by the MAS, the toolkit, dubbed Veritas Toolkit version 2.0, is meant to provide guidance to firms offering financial products and services on the responsible use of AI and data analytics, through its assessment methodology named the Fairness, Ethics, Accountability and Transparency (FEAT) principles.
