Fair Lending & Compliance
Podcast: Exploring How AI Creates More Inclusive Lending
February 3, 2021
"Access to credit is a matter of life and death,” says Chris Brummer, “… so the idea that better math can lead to better outcomes is, frankly, kind of exciting, but for other than the reasons one might think.”
Brummer also moonlights as host the long-running Fintech Beat podcast and in his latest episode he had on Zest AI CEO Mike de Vere and General Counsel Teddy Flo to talk about how AI is reshaping consumer lending with better math and what the impact of more accurate models will have on closing the racial wealth gap.
Says Dr. Brummer: "The fact that more potentially socially beneficial options exist for speaking to racial opportunity gaps puts us all on notice that the current state of credit allocation may be as much a problem of choice as it is technological feasibility. And that is as sobering as it is exciting."
Listen to the show here:
Or listen at Dr. Brummer’s show page and subscribe if you like it. Dr. Brummer has quality guests on his show from all across the fintech, regulatory, and policy fronts, including a great episode from Sept 2020 with Michael Kearns, author of The Ethical Algorithm.
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