REDWOOD CITY, Calif., May 04, 2021 (GLOBE NEWSWIRE) — TruEra, which provides the first suite of Model Intelligence solutions for AI explainability and model quality, announced today that it has been named a finalist for Fast Company’s 2021 World-Changing Ideas Awards, honoring the businesses, policies, projects, and concepts that are actively engaged and deeply committed to pursuing innovation when it comes to solving health and climate crises, social injustice, and economic inequality.
TruEra’s Model Intelligence Platform, which helps companies optimize their use of AI by analyzing model quality, increasing transparency, and mitigating unfair bias, was honored in the AI and Data category.
“Artificial Intelligence and machine learning represent a huge opportunity for benefit to the world, in terms of efficiency, effectiveness, and new products and services,” said Anupam Datta, co-founder, President, and Chief Scientist, TruEra. “And it could also help achieve the ideals of a fairer society when used in a thoughtful, conscious manner — an area that our team has been deeply involved in over the past decade. If misused or used carelessly, however, it could lead to negative outcomes or, worse, perpetuate or exacerbate inequality or bias.”
“In order for AI technologies to overcome concerns and achieve its potential, organizations need to do a better job of ensuring model quality and fairness,” said Datta. “This includes not only explainability, the ability to clearly identify and document how a model works, but also four critical areas of quality: stability, reliability, accuracy, and fairness. TruEra’s solutions help companies throughout the model lifecycle, from development and validation to live use, giving them confidence that models are performant and fair. Ultimately, we help AI achieve a goal that is currently hard to grasp: trust.”
TruEra, which launched in August 2020, has already made a significant impact in the AI space. The TruEra platform is deployed at and delivering value to a number of Fortune 100 customers, including global bank Standard Chartered. In December 2020, TruEra announced a $12M funding round to help accelerate the go-to-market of its Model Intelligence Platform. In March 2021, the company was named to Fast Company’s Annual List of the World’s Most Innovative Companies for AI.
“There is no question our society and planet are facing deeply troubling times. So, it’s important to recognize organizations that are using their ingenuity, impact, design, scalability, and passion to solve these problems,” said Stephanie Mehta, editor-in-chief of Fast Company. “Our journalists, under the leadership of senior editor Morgan Clendaniel, have discovered some of the most groundbreaking projects that have launched since the start of 2020.”
Now in its fifth year, the World Changing Ideas Awards showcase 33 winners, more than 400 finalists, and more than 800 honorable mentions—with Health and Wellness, AI & Data among the most popular categories. A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 4,000 entries across transportation, education, food, politics, technology, and more.
Showcasing some of the world’s most innovative entrepreneurs and companies tackling exigent global challenges, Fast Company’s Summer 2021 issue will be on newsstands May 10.
To learn more about TruEra visit https://truera.com/.
TruEra provides the first suite of Model Intelligence solutions that help enterprises analyze machine learning, improve and monitor model quality, and build trust. Powered by enterprise-class Artificial Intelligence (AI) Explainability technology based on six years of research at Carnegie Mellon University, the TruEra platform helps eliminate the black box surrounding widely used AI and ML technologies. This visibility leads to higher quality, explainable models that sustainably achieve measurable business results, address unfair bias, and ensure governance and compliance. To learn more, visit https://truera.com/.
An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d17882af-8801-4a4b-b6db-86075fcfae9d