Fair AI seeks to address the issue of algorithmic bias, which is when biased data or assumptions are used to inform decisions. In essence, it can be defined as bias embedded in technology applications and systems that use automation, such as artificial intelligence and machine learning.
An algorithmically biased system will always provide biased results according to the bias built into it, putting certain groups at a disadvantage. For example, an algorithm used to measure creditworthiness may yield higher interest rates for black borrowers than white borrowers with the same financial backgrounds.
The potential consequences of algorithmic bias can be immense, so we must look for measures of fairness implementation when designing algorithms and ensure our decisions are free from prejudice.
Creating fair algorithms is a difficult task and requires thorough evaluation to identify any potential biases that may be present in the data or assumptions used. AI algorithms must be tested against real-world scenarios with diverse data sets to ensure that they are able to account for the nuances of human behavior.
Businesses that implement AI can convince users and customers of their trustworthiness by emphasizing transparency, taking measures to validate the accuracy of algorithms, providing information about any biases present in data used for training, and promoting accountability.
Additionally, businesses should ensure that those responsible for creating algorithms are experienced professionals with a sensitivity to fairness issues.
Ensure fairness in AI with the help of VirtuousAI. We offer auditing services to inspect and analyze algorithms, data sets, and AI systems for bias. By utilizing tools such as AI Fairness 360 and seeking expert advice, businesses can take the necessary steps to create and promote fair AI. Get started today.