Blog Centre for Data Ethics and Innovation Blog

Public attitudes on the fair use of data and algorithms in finance

Posted by: Lara Macdonald, Posted on: 14 May 2020 - Categories: Algorithms, Bias, Data collection, Decision-making

Financial companies are increasingly using complex algorithms to make decisions regarding loans or insurance - algorithms that look for patterns in data which are associated with risks of default or high insurance claims. This raises risks of bias and discrimination …