WESTPORT, Conn., Dec. 12, 2019 (GLOBE NEWSWIRE) -- Hunter Muller, President and CEO of HMG Strategy, the world's largest independent and most trusted provider of executive networking events and thought leadership for technology leaders, predicts in a recent article that while the use of artificial intelligence (AI) will eventually drive greater efficiencies and unlock new opportunities for businesses down the road, the path to AI adoption will be bumpy at times.
“Unquestionably, AI will become an indispensable tool for automating key processes, finding hidden patterns in large datasets and driving greater efficiencies across the modern enterprise in thousands of ways,” said Muller. However, there are major obstacles that must be overcome, including issues surrounding algorithmic bias.
“Although we tend to assume that data science is inherently unbiased and objective, the truth is that algorithms often reflect the biases of their creators, even when those biases are invisible,” said Muller. “Even worse is the unpleasant reality that machine learning algorithms can actually exacerbate existing biases, taking bad situations and making them worse.”
A recent article in MIT Technology Review reveals the magnitude of the problem, notes Muller. “The article cites the story of a web developer who discovered that his wife – who had a better credit score than he had – was given a far lower credit limit when they applied for an Apple Card. According to the article, the machine learning algorithm that determined the credit limits based its decision on data that reinforced longstanding biases against women. The algorithm could have been tweaked to consider the gender of credit card applicants, but that would have been illegal in the U.S., where gender blindness is legally required when making decisions about creditworthiness.”
Muller predicts that more instances of algorithmic bias will occur before the industry determines how best to manage the problem. “Reputable AI vendors are well aware of algorithmic bias and are working diligently to minimize its impact,” said Muller.
To learn more about Hunter Muller’s previous leadership, technology industry and stock market predictions as well as other thought leadership articles in HMG Strategy’s Digital Resource Center, click here.
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