What does 'model explainability' refer to in AI?

Model explainability refers to the ability to understand how a machine learning model makes decisions and generates outputs based on its input data. This concept is crucial in the field of artificial intelligence because it allows users to comprehend the reasoning behind the model's predictions, which can help build trust, facilitate accountability, and identify potential biases in the decision-making process.

Understanding model explainability is particularly important in sectors where decisions have significant impacts, such as healthcare, finance, or legal contexts. By having insight into how a model works, stakeholders can better interpret results, make informed decisions, and ensure that the model aligns with ethical standards and regulatory requirements.

In contrast, the other options focus on aspects that do not directly relate to how a model produces its outputs. Financial costs, efficiency, and training duration, while important metrics for evaluating the overall performance and feasibility of an AI solution, do not provide insight into the decision-making process of the model itself.