fAIr Venture

Inter-American Development Bank

fAIr Venture is an AI ethics risk assessment template designed for investors. Developed by IDB Lab, Adolfo Ibáñez University and Magical Startups Chile, this tool helps identify non-financial risks in AI or machine learning technologies of investee companies. The tool provides a structured approach to assess how AI technologies can ethically impact investments. It is aimed at facilitating the understanding of potential ethical and social challenges, allowing investors to make more informed and responsible decisions in their technological projects.

The fAIr Venture tool solves the problem of identifying the main ethical risks associated with artificial intelligence (AI) developed by private sector companies, especially startups. These risks may include issues such as privacy, fairness, transparency, algorithmic bias, security, and other ethical issues that are crucial to the responsible development and implementation of AI.

In order to use the tool, you only have to download the Excel file and select the corresponding option in each of the rows of the matrix. The table automatically generates a response associated with the risk level of the selected option so that the resulting radial diagram is generated as the user selects the options.

Based on the fAIr LAC 3S conceptual framework. Integrates ethical AI and sustainability principles such as OECD, ESG, SASB, ESG_VC, and HKS_BC.