Equifax Celebrates a Decade of Driving Responsible AI Innovation
EQUIFAX HAS DRIVEN RESPONSIBLE AI INNOVATION FOR MORE THAN A DECADE and this month, celebrates the inception of its first explainable artificial intelligence (XAI) patented solution. In 2015, Equifax began developing NeuroDecision® Technology, a now-patented solution powered by XAI to help lenders approve more consumers for credit. The technology was among the first machine learning (ML) credit scoring methodologies to generate logical and actionable reason codes for consumers.
“While it has been 10 years since Equifax began working on its first XAI patented solution, we continue to focus on driving AI innovation, infusing our patented AI techniques into solutions designed to enable our customers to get to insights faster — helping to create new consumer opportunities,” said Raghu Kulkarni, Equifax Chief Artificial Intelligence Officer. “In fact, in the second half of 2024, 100% of our new models and scores in the U.S. were built using EFX.AI and machine learning and globally 99% used AI/ML, both well above our 80% goal.”
Central to the Equifax Cloud is its custom data fabric. The adaptable data platform unifies the enterprise’s data (from over 100 siloed data sources) in a single, virtual structure, while enabling critical data governance measures, including data segregation, and maintaining compliance with regulatory requirements. It is powered by layering advanced analytics and AI with deep, proprietary, high-quality data. Data fabric offers the ability to ingest and analyze data at scale and leverages enhanced keying and linking of our data assets for rapid delivery of multi-data risk modeling solutions, as well as identity resolution and fraud prevention offerings.
Equifax recognizes that its use of AI systems has increased productivity and innovation over the past decade and remains committed to using AI in a transparent, trustworthy, fair, explainable, and secure manner. Equifax infrastructure is tailored to manage highly regulated, non-public data – critical to the trusted use of AI. The organization has also established an AI Governance Program, designed to operationalize Responsible AI and help ensure that Equifax consistently and appropriately designs, implements, and uses AI Systems for approved use cases.
Equifax understands the role and importance of AI to its customers’ businesses and - ultimately works to support their growth, agility and speed at scale through its own use of the technology. In today’s always-on world, speed is a competitive advantage. The Equifax Cloud, combined with the power of AI, facilitates faster solution implementation, cloud-native model deployment, and expedited consumer decisioning to provide benefits to consumers, customers, and its own technical and business operations.
Learn more about how AI-enabled Equifax Cloud Infrastructure Accelerates Customer Insights.