Beware The Dark Side Of AI

 Friday, February 19, 2021

 Insurance Thought Leadership

Within the Biden administration’s first weeks, the Office of Science and Technology Policy has been elevated to a cabinet-level position. Biden has appointed Alondra Nelson as deputy director.

She is a scholar of science, technology and social inequality. In her acceptance speech, Nelson shared, ‘When we provide inputs to the algorithm, when we program the device, when we design, test and research, we are making human choices.’

We can expect artificial intelligence (AI) bias, ethics and accountability to be more significant issues under our new president.

The financial services industry has a long and dark history of redlining and underserving minority communities.

Regardless of regulation, insurers must take steps now to address the ethical concerns surrounding AI and data.