Explainify

Elevator Pitch: Explainify transforms the mysterious black-box decisions of AI into clear, actionable insights, helping individuals understand and potentially alter the outcomes that affect their lives. For businesses, it’s not just about compliance but building trust with your customers and employees by showing you’re committed to fairness and transparency in every automated decision you make.

Concept

Providing transparent, understandable counterfactual explanations for automated decision-making in industries like finance, HR, and law.

Objective

To enhance transparency and fairness in automated decision-making processes by providing users with clear, understandable explanations for decisions.

Solution

Utilizing the CFGS framework for generating counterfactual explanations that show users how outcomes would change with different inputs.

Revenue Model

Subscription-based for businesses and institutions, with tiered pricing depending on usage volume and customization features.

Target Market

Financial institutions for loan approvals, HR departments for hiring, legal institutions for bail approvals, and any other sectors utilizing automated decision-making.

Expansion Plan

Initial focus on industries with the most regulatory pressure for transparency, then expand to any sector using machine learning for decision-making.

Potential Challenges

Complex integration with diverse decision-making systems, and ensuring the explanation models keep pace with evolving algorithms.

Customer Problem

Lack of transparency and understanding in automated decisions affecting people’s lives and careers.

Regulatory and Ethical Issues

Navigating global differences in data privacy laws and ethical considerations around bias in automated decisions.

Disruptiveness

Transforms opaque automated decision processes into transparent, understandable systems, building trust and facilitating better user outcomes.