It goes without saying that artificial intelligence impacts every facet of our lives. With the rapid evolution and the now-ubiquitous nature of AI, we are now faced with untoward implications of AI and biases in its implementation. One example (of many) is AI-driven credit applications checks (in financial services). Individuals have historically been denied credit for mortgages and other products on the basis of an incorrect or biased AI decision (which may or may not have been checked by an actual human) link here and here . The impersonal nature of modern day business operations is a contributory issue -- even if the affected person were to call up the financial institution to ask why they got denied, there is a strong chance that whoever is on the other side of the line is unable to explain exactly what went wrong.

I'm concerned about the ethical issues of the new technology artificial intelligence. Do we need to get ahead of this new technology?

It is not news that, for all its promised benefits, artificial intelligence has a bias problem. Concerns regarding racial or gender bias in AI have arisen in applications as varied as hiring, policing, judicial sentencing, and financial services. If this extraordinary technology is going to reach its full potential, addressing bias will need to be a top priority. With that in mind, here are four key challenges that AI developers, users, and policymakers can keep in mind as we work to create a healthy AI ecosystem. We live in a world awash in data.