Fairness – not just towards vulnerable customers, but towards any customer category the regulator wishes to protect – is an upcoming concern. This is particularly critical as automated, data-driven modelling and decision making expands in scope, because all data-driven approaches will, by default, perpetuate all our past biases. Again, innovation is necessary to ensure that our data-driven predictive analytics only automate what is best about us, leaving the foibles of human behaviour behind.
by Panayis Fourniotis Pavlatos,
Director of Intelligent Decisions at QUALCO