Machine learning algorithms could increase ethnic bias – research
Technology makes loans more likely for US ethnic minorities but increases interest rates, paper finds
Machine learning algorithms used by US lenders could both help and penalise borrowers from ethnic minority groups, a new research paper argues.
The International Monetary Fund’s annual macro-financial research conference, held earlier this month, included a presentation on an updated draft paper by Andreas Fuster et al.
In “Predictably unequal? The effects of machine learning on credit markets”, the authors look at a large administrative dataset on almost 10 million US mortgages originating
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