AI and Machine Learning Can Help FIs Avoid Risk--but They Have Risk of Their Own

Mercator Advisory Group releases a new research report that examines the impact of hidden biases in ML and Artificial Intelligence--and how to avoid them. BOSTON, Oct. 12, 2020 /PRNewswire-PRWeb/ -- AI models reflect existing biases if these biases are not explicitly eliminated by the data scientists developing the systems. Constant monitoring of the entire operation is required to detect these shifts. The remedy for such lack of focus is training. Mercator Advisory Group's latest research Report, Tracking Mistakes in AI: Use Vigilance to Avoid Errors, discusses modes in which data models can deliver biased results, and the ways and means by which financial institutions (FIs) can correct for these biases.