Artificial intelligence (AI) presents an opportunity to transform how we allocate credit and risk, and to create fairer, more inclusive systems. AIs ability to avoid the traditional credit reporting and scoring system that helps perpetuate existing bias makes it a rare, if not unique, opportunity to alter the status quo. However, AI can easily go in the other direction to exacerbate existing bias, creating cycles that reinforce biased credit allocation while making discrimination in lending even harder to find. Will we unlock the positive, worsen the negative, or maintain the status quo by embracing new technology?
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- United States of America
