I took Caltech's "Learning from Data"[0] (machine learning) MOOC a couple of years ago. Of course, one of the classic ML applications is loan approval. In one

I took Caltech's "Learning from Data"[0] (machine learning) MOOC a couple of years ago. Of course, one of the classic ML applications is loan approval. In one lecture, Prof. Abu-Mostafa mentioned he was a consultant to a large financial organization and his project built a successful loan selection system. But then the organization's CEO asked "Why did you turn down these loans? Under the Fair Credit Reporting Act, we have to tell the applicants why they were rejected." Of course, he couldn't say "because that applicant was not on a high enough peak in a 10,000 dimension space." A question came back from the audience, "What did you end up doing?" and the professor told us, sheepishly, "I can't tell you." And so it goes... [0] https://work.caltech.edu/telecourse.html https://work.caltech.edu/telecourse.html