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Equifax: "sorry, we're denying you a loan because an algorithm no one understands said to" They will feed your behavior into a machine learning algorithm, whic
by Sir_Cmpwn 8y ago
Equifax: "sorry, we're denying you a loan because an algorithm no one understands said to"
They will feed your behavior into a machine learning algorithm, which will probably develop biases.
- Pica_soO 8y agoWant to optimize your credits score- we can do that for you- for a share!
- hakfoo 8y agoI always wondered: what if redlining worked from a financial perspective? If it turned out that Ethnic Group A is on average 5% more reliable about paying their debt, this is valuable information, but the banks are legally bound to ignore it. So they've probably spent a lot of time trying to produce similar metrics through proxy measurements. Seek out a profession or purchasing pattern that suggests a given ethnicity without outright saying it. I suspect AI is, from a legal CYA perspective, the greatest proxy of them all. "It's a black box, we don't/can't know how it produces its results... yet mysteriously it biases exactly how we would if we could overtly discriminate."