Just Economy Conference – May 7, 2021
Artificial intelligence and machine learning (AI) have the capability to disrupt many aspects of retail banking. Using models that can see patterns and make conclusions from thousands of points of data, these tools can improve the predictive power of underwriting systems. However, many of the potential benefits of AI remain untested. Does AI support financial inclusion without perpetuating the same divisive and discriminatory practices that have occurred in the past? How should regulation be updated to make sure that these models are based on accurate records, make sensible decisions, and treat everyone fairly? Join this panel to hear an expansive conversation between a fair lending attorney, the head of a research organization studying the explainability and fairness of ML algorithms in credit underwriting, and the CEO of a consulting firm that provides AI-driven services to lenders.