The National Association of Insurance Commissioners (NAIC), the primary regulatory body of insurance in the United States, took a positive step toward enhanced regulation of artificial intelligence and machine learning systems. The core principles it established are represented in the acronym FACTS:
- Fair and Ethical
- Accountable
- Compliant
- Transparent
- Secure/Safe/Robust
Explicitly calling out Accountability as a key need for AI systems fits into a larger trend that we're seeing pushing beyond responsible use into assigning accountability and creating the expectation that companies operate their intelligent technology with intentionality.