Glossary term
Glossary term
Governance and Compliance
Continuous tracking of model behavior, data inputs, output quality, latency, cost, fairness, and risk indicators after deployment. It detects drift, regression, abuse, and emerging issues. Performance monitoring should produce alerts, dashboards, and evidence usable by operations, governance, and audit teams.
EvidentlyAI, Arize AI, Fiddler, and WhyLabs are commercial AI observability platforms used by enterprises like Mastercard and JP Morgan.
Datadog and New Relic added LLM observability features in 2023 and 2024 to support production AI monitoring.
Under SR 11-7, US banks must implement ongoing performance monitoring of models in production with documented procedures and escalation.