24 - Combating Bias in AI and Machine Learning in Consumer-Facing Services

Summary

Artificial intelligence (AI) seeks to enable computers to imitate intelligent human behavior, and machine learning (ML), a subset of AI, involves systems that learn from data without relying on rules-based programming. ML techniques include supervised learning (a method of teaching ML algorithms to “learn” by example) and deep learning (a subset of ML that abstracts complex concepts through layers mimicking neural networks of biological systems). AI has the promise to revolutionize practically every industry it touches and to significantly affect consumer interactions with companies that provide services to consumers. This chapter focuses on two industries that touch sensitive consumer information – healthcare and consumer financial services – to highlight the potential of AI to transform traditional sectors and modernize the status quo of how healthcare and consumer financial services are provided in the United States and to flag the potential legal risks.