Just as AI is important for easing tasks and solving complex problems in our life, likewise AI auditing is essential to ensure data bais and vulnerabilities are prevented on time.
Bias and vulnerabilities by AI are indeed possible, after all, AI, isn’t something that is autonomous or something that comes on its own. AI is designed by humans and is bound to errors and that is what drives the need for AI auditing. AI auditing safeguards us from unfair outcomes while making sure to identify and mitigate data bias and vulnerabilities.
Starting an AI audit firm business is an idea that takes care of constantly emerging data bias and potential threats produced by machine learning or simply call it Artificial Intelligence. Nothing is immune to erros on earth and so does AI systems.
So, in simple words, entrepreneurs who would want to open an AI audit startup need to understand the fact that they will be overseeing AI sytems for a number of risks and generating solutions to prevent them from causing harm to the people. They will also address other problems like security loopholes, which most often than not compromise the trustworthiness of artificial intelligence systems.
What your AI audit firm will do is important otherwise it is merely a futile activity and loss of money to start it at your place. Your firm’s primary role will be making sure AI systems work fairly and comply with regulations and most importantly address the need for accountability and trust in AI systems.
Your business’s overall success will depend on the use of a business model and it should cover your target customers, value preposition or offering, operational approach and revenues channels. Target customers outlines all those people or market segments that will use your services. Value preposition is the product or service you will offer to solve their problems. Operational approach is your way of deliver your value preposition to the your target customers and revenue channels are methods you shall use to make money. Let’s break and understand each one in detail.
SMEs and all those industries with heavy use of machine learning constitutes your target markets. Healthcare, governments, retail and even technology industry are substantially using artifical intelligence. They are ones you will be targeting with your offerings.
These customers should be looked for all those risks and threats that are bound to produced by their use of AI systems. You and your team of data scientists will do a deep thorough investigation to find vulnerabilities in their AI systems and prepare an audit report for immediate action to neutralize the potential threats.
You can earn profit using a lot of methods and one of the best ways to earn is charging your clients with a fixed fee for a single auditing of their AI systems. You can also use subscription model and even embrace performance fee models that charges clients based on your audit performance. You can think of as many ways as you could but make sure your clients don’t feel their pockets are being drained for an u fair amount of money.
