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But the underlying situation is biased. The data could be both accurate and unfair. Is it, just don't do data, same interest rate for everyone, no denials and
by refenestrator 6y ago
But the underlying situation is biased. The data could be both accurate and unfair.
Is it, just don't do data, same interest rate for everyone, no denials and amortize defaults across higher rates for lower-risk borrowers?
You'd need a law, the first bank to do that would be crushed by other banks that can attract the lower-risk borrowers with lower rates.
- klyrs 6y ago> You'd need a law, the first bank to do that would be crushed by other banks that can attract the lower-risk borrowers with lower rates. Curious. Is your answer to the title "we need laws to regulate AI?" I'm not specifically agreeing or disagreeing.
- refenestrator 6y agoI'm just talking about the bank loan thing. If you want all people to have access to bank loans on equal terms regardless of income or other signals, you'd have to enforce that with a law.