Risks of AI credit scoring include data privacy concerns, potential algorithmic bias and lack of transparency in decision-making processes. Ethical considerations and regulatory compliance are ...

While your credit score is generated ... people talk about bias in the data. And that’s somewhat of an obvious thing,” he said. One example he shared was a lender algorithm to assess credit ...

When one banker asks another “What’s the score?” they’re likely discussing a loan applicant’s credit score rather than sports.Credit scoring, a statistical method introduced in the 1950s to predict ...

Countries across the region are aggressively adopting AI systems for everything from smart city surveillance to credit scoring apps ... is the spectre of algorithmic bias. AI bias refers to ...

Lenders must understand bias testing and human feedback loops ... and marital status are forbidden to be considered in credit-score calculations, algorithms can put groups of people at a disadvantage.

The consequences of algorithmic bias could mean that Black and Hispanic individuals end up paying more for insurance and experience debt collection at higher rates, among other financial ...