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AI Vendors and Your Own Quality Controls

Answered by: 

Question: 
If we use a vendor program to screen loan applications and they are insured against defects, we can use them, correct?
Answer: 

Yes you certainly can. But first you need to understand what went into the criteria used. The CFPB has long stated that AI will adopt any bias that was programmed into it. Just like a rogue lender with a bias against a protected class, AI can violate laws.

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Learn more about Andy Zavoina's AI vs CI, Coordination or Collision webinar.

First published on 02/11/2024

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