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Full-Text Articles in Law
Artificial Intelligence, Machine Learning, And Bias In Finance: Toward Responsible Innovation, Kristin Johnson, Frank Pasquale, Jennifer Chapman
Artificial Intelligence, Machine Learning, And Bias In Finance: Toward Responsible Innovation, Kristin Johnson, Frank Pasquale, Jennifer Chapman
Fordham Law Review
According to some futurists, financial markets’ automation will substitute increasingly sophisticated, objective, analytical, model-based assessments of, for example, a borrower’s creditworthiness for direct human evaluations irrevocably tainted by bias and subject to the cognitive limits of the human brain. However, even if they do occur, such advances may violate other legal principles.
Artificial Intelligence, Finance, And The Law, Tom C.W. Lin
Artificial Intelligence, Finance, And The Law, Tom C.W. Lin
Fordham Law Review
Artificial intelligence is an existential component of modern finance. The progress and promise realized and presented by artificial intelligence in finance has been thus far remarkable. It has made finance cheaper, faster, larger, more accessible, more profitable, and more efficient in many ways. Yet for all the significant progress and promise made possible by financial artificial intelligence, it also presents serious risks and limitations. This Article offers a study of those risks and limitations—the ways artificial intelligence and misunderstandings of it can harm and hinder law, finance, and society. It provides a broad examination of inherent and structural risks and …