AI technology microchip background digital transformation concept. — Image by rawpixel.com on Freepik
New York: A bank uses biased artificial intelligence (AI) outputs in a mortgage lending decision. An insurance firm’s AI produces racially homogeneous advertising images. Users of an AI system complain about a bad experience.
These are just a few of the potential risks AI poses for financial institutions that want to embrace the emerging technology, according to a series of papers released last Thursday.
