Showing posts with label KPMG. Show all posts
Showing posts with label KPMG. Show all posts

Wednesday, May 12, 2021

Monitaur Uses Industry Traction to Successfully Close $2.6 Million in Funding

Monitaur Uses Industry Traction to Successfully Close $2.6 Million in Funding
| #TpromoCom #AI #ArtificialIntelligence #Business | Growing demand for AI and ML solutions in insurance exposes market need for governance, transparency, and auditability https://bit.ly/3ff4Cir

BOSTON, May 11, 2021 (GLOBE NEWSWIRE) -- Monitaur, developer of machine learning (ML) assurance technology, is pleased to announce the company has successfully closed an oversubscribed funding round of $2.6 million that included TechStars, MTech Capital, Hub Angels, and other prominent angel investors, which will accelerate hiring for technical and market-facing teams for insurance, a first mover industry for ML assurance.

Recent research by KPMG and Boston Consulting Group (BCG) highlights accelerated investment in AI during the pandemic, but also mounting concerns about risks and a lag in the implementation of responsible AI governance programs. 

Governance initiatives around artificial intelligence (AI) and ML deployments are intensifying because these solutions are increasingly making high-impact decisions about the health, finances, employment, and safety of individuals and must be assured to be fair, safe, compliant, and accountable. Recognizing the potential risks of complex decision systems, the National Association of Insurance Commissioners (NAIC), for example, is ramping regulatory scrutiny focused on protecting consumers from model-based racial and gender bias in underwriting, product development, and pricing.

There's more: 


Visit theTpromoCom Bookstore on Biblio!






Follow us on Social Media or email us: