The algorithm police is coming. Will it have teeth?
algorithmwatch.org
algorithmwatch.org
The majority of minorities fell into this category and the algorithm was deemed 'racist'.
Fixing the algorithm will not solve the problem and more likely than not, it will make the loan system unstable for everyone by giving out loans to people that can't afford them and most likely will never pay them back.
On the one hand, biased resource allocation can be insidious and giving a free pass to any discrimination that's implemented within a black box labeled "algorithm" seems foolish.
On the other hand, none of the alternatives I see:
* banning a predefined list of analytical practices, * outlawing a list of input types that may be used, * second-guessing the quality of not-transparently-unjust logic to assign negligence, or * defining a "fair" outcome that's not to be deviated from
seem both administrable and sufficient, especially as the stakes go up and complexity necessary to improve decision outcomes becomes more complex (turn left-right-straight given a LIDAR image, predict likelihood to reject an organ given patient history and donor/patient DNA profiles).