finance news

A Hands-on Tutorial for the Effect of Bias in AI Financial Models Picture this: you apply for a loan, only to be turned down, puzzled, because it’s for reasons you cannot comprehend. Imagine that this decision was not made by a human being, but by an AI? In finance, these systems are becoming ubiquitous. Unfortunately, they can also inherit our … Read more

AI in Finance — Example of Bias, Detection and Mitigation Now, instead you’re putting someone else in the position, you’re applying for a loan and you’re getting denied not based on your credit score but on some judgment that an AI model has made about you that is unfair like we’re not going to give you a … Read more

Unbiased Simulations: Identifying and Reducing Bias in AI Models Cherry picking one zip code here and another there, the payments were denied by an AI model. And that’s not only unfair: It’s bad business. Everywhere you go, AI financial models are already in place. They assist with investments, loans and even preventing fraud. But these models can also be biased. Although … Read more

Adopt It, Don’t Drop It: AI Financial Models and the Inequality Crisis Have you ever heard of an AI denying you a loan? It’s happening more than you may know. It would be like sweating to earn your credit line, only to be denied for a shot at your own home by a computer program. This is not science … Read more

Decoding AI Bias in Real Estate AI is changing real estate. It provides better ways to value property, assess risks and plan investments. But there’s an underlying issue. Even as these smart systems can be inequitable, they are learning from an old data closet. This can carry over into bias regarding loans, property values and where a person can … Read more

Unmasking Bias and Ensuring Fair Predictions in AI Financial Models in Excel Have you ever heard of a lending algorithm that rejected loans for people in certain neighborhoods? It happened. As AI makes its way into more Excel spreadsheets, problems could arise. You’re seeing bias in all kinds of AI financial models. These biases can … Read more

AI Bias in Financial Models Let’s say, for example, you are Sarah, a small business owner. She made a loan request but was mistakenly denied. The A.I. financial model that was biased sealed her fate. It happens more often than you might think. AI financial models: The market’s new challengers They help decide whether to dispense loans, insurance or make … Read more

AI in Finance Industry In fact, did you know that the adoption of AI in finance exploded by over 60% in the last few years? It’s a big deal. This is where AI is changing the nature of money. It makes it faster, accurate, and original. AI is wreaking havoc in finance, from spotting fraud to trading stocks. Here’s … Read more

AI in Financial Services: Finding a Balance in Ethics, Sustainability & Social Responsibility Remember the 2008 financial crisis? It showed how fast things can get complicated. Today, AI presents an opportunity to do systemic better, one that is strong and fair. Financial AI is among the fastest growing areas of AI, so starting to think … Read more

What Is Ethical AI and Why Is It Important? Imagine a self-driving car navigating a difficult choice: to swerve and potentially harm the passenger, or to remain on course and strike a group of pedestrians. Who decides? What are the values that inform that choice? Artificial intelligence, or AI, is rapidly infiltrating all sorts of … Read more