Final answer:
Self-learning models, or AI, can be 'black boxes' with decision-making processes that are hard to interpret, possibly containing biases, leading to a risk of lack of explainability and transparency.
Step-by-step explanation:
The explainability risk of self-learning models lies in their nature as potential black boxes whose decision-making processes cannot be easily understood or deciphered by human operators. While self-learning models, such as certain types of artificial intelligence (AI), provide the advantage of quick and sometimes accurate predictions, they also suffer from the disadvantage of possibly making erroneous predictions due to the current limitations in our understanding of their complex mechanisms. Moreover, these models can incorporate algorithms with biases, potentially perpetuating existing biases if left unchecked. Therefore, one major risk associated with self-learning models is their lack of explainability, which can hinder transparency and control over AI-driven decisions.