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Activity Number:
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221
- Advanced Statistical Methods in Quality, Business, and Industry
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Type:
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Invited
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Date/Time:
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Tuesday, August 9, 2022 : 8:30 AM to 10:20 AM
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Sponsor:
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Quality and Productivity Section
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Abstract #320441
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Title:
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Managing Model Risk Through Explainable Machine Learning
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Author(s):
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Vijay Nair*
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Companies:
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University of Michigan
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Keywords:
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machine learning;
risk management
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Abstract:
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Machine learning algorithms have become popular over the last few decades. While they have superior predictive performance, the black box nature of the results makes it challenging to understand and manage model risk in regulated industries. This presentation will describe selected recent research on explainability. We will discuss surrogate interpretable models using model-based trees and self-interpretable models using functional ANOVA decomposition. This is joint work with Linwei Hu and Jie Chen.
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Authors who are presenting talks have a * after their name.
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