Explainable AI (XAI) refers to methods and techniques in the application of artificial intelligence technology (AI) such that human experts can understand the results of the solution. XAI creates a transparent environment where users can understand and trust AI-made decisions. Explainable AI is crucial for an organization in building trust and confidence when putting AI models into production. Explainable AI helps promote end user trust, model auditability and productive use of AI. It also mitigates compliance, legal, security and reputational risks of production AI. The Global Explainable AI (XAI) Market size is estimated to be $35.01 billion in 2020 & is predicted to reach $210.25 billion by 2030 with a CAGR of 18.95% from 2021 – 2030.
