Bias Isn’t the Only Problem with Credit Scores—and No, AI Can’t Help

Author: Will Douglas Heaven

Publisher: MIT Technology Review

Publication Year: 2021

Summary: The following article discusses how it is a known fact that biased algorithms affect automatic decision-making processes. To fix this problem, many researchers and start-ups are working to build fairer algorithms. The author, however, claims that building a fair algorithm is not enough because low-income and minority groups represent a very small portion of the overall data. He says that when that is the case, technology alone will not be sufficient to fix the problem. Instead, we should be more realistic about the gravity and the scope of the problem.