By: CXOtoday.com
June 18, 2021
Disruptive technologies offer tremendous opportunity for businesses to become smarter, more flexible, and more responsive. But people often fail to understand the ramifications of their usage, running into bigger risks to businesses. It is then that the question of digital ethics comes into the picture.
Let’s say, a private bank decides to use machine learning to filter out who is eligible for a loan. The machine learning will need training on a data set, which could be historical data or user created data. If, historically, the bank has denied loans to a certain category of people, the same bias would carry forward to the machine. So essentially, they have transferred this bias to the system and now the system would deny loans to that certain category of people.