Interpretability is a crucial aspect of machine learning models that enables humans to understand and trust the decision-making process of these models. In many real-world applications, the interpretability of models is essential for legal, ethical, and practical reasons. For instance, in the banking domain, interpretability is critical for lenders and borrowers to understand the reasoning behind the acceptance or rejection of loan applications as per fair lending laws. However, achieving interpretability in machine learning models is challenging, especially for complex high-performance models. Hence Explainable Boosting Machines (EBMs) have been gaining popularity due to their interpretable and high-performance nature in various prediction tasks. However, these models can suffer from issues such as spurious interactions with redundant features and single-feature dominance across all interactions, which can affect the interpretability and reliability of the model's predictions. In this paper, we explore novel approaches to address these issues by utilizing alternate Cross-feature selection, ensemble features and model configuration alteration techniques. Our approach involves a multi-step feature selection procedure that selects a set of candidate features, ensemble features and then benchmark the same using the EBM model. We evaluate our method on three benchmark datasets and show that the alternate techniques outperform vanilla EBM methods, while providing better interpretability and feature selection stability, and improving the model's predictive performance. Moreover, we show that our approach can identify meaningful interactions and reduce the dominance of single features in the model's predictions, leading to more reliable and interpretable models. Index Terms- Interpretability, EBM's, ensemble, feature selection.
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