As AI applications at Principal Financial Group proliferated over the last few years, so has the need for a comprehensive AI governance strategy, and a set of tools to help monitor and enforce it. “We’re leveraging over 100 active AI use cases, including natural language processing, machine learning and generative AI models used for fraud detection, claims automation, investment research, retirement plan optimization, and contact center support,” says VP and chief data and analytics officer Rajesh Arora. Each, however, introduced risks, such as compliance, bias, and ethics concerns that required an AI governance strategy. |