PERform: assessing model performance with predictivity and explainability readiness formula

In the rapidly evolving field of artificial intelligence (AI), explainability has been traditionally assessed in a post-modeling process and is often subjective. In contrary, many quantitative metrics have been routinely used to assess a model's performance. We proposed a unified formular named PERForm, by incorporating explainability as a weight into the existing statistical metrics to provide an integrated and quantitative measure of both predictivity and explainability to guide model selection, application, and evaluation. PERForm was designed as a generic formula and can be applied to any data types. We applied PERForm on a range of diverse datasets, including DILIst, Tox21, and three MAQC-II benchmark datasets, using various modeling algorithms to predict a total of 73 distinct endpoints. For example, AdaBoost algorithms exhibited superior performance (PERForm AUC for AdaBoost is 0.129 where Linear regression is 0) in DILIst prediction, where linear regression outperformed other models in the majority of Tox21 endpoints (PERForm AUC for linear regression is 0.301 where AdaBoost is 0.283 in average). This research marks a significant step toward comprehensively evaluating the utility of an AI model to advance transparency and interpretability, where the tradeoff between a model's performance and its interpretability can have profound implications.