Business lines must answer for ML biases – OCC’s Dugan
Banks cannot blame developers or vendors for faulty machine learning models, says regulator
Regulators will hold business units accountable for machine learning (ML) biases that result in unfair business decisions, a top regulator at the Office of the Comptroller of the Currency (OCC) said today (June 18) at the OpRisk North America conference in New York.
ML techniques, a subset of artificial intelligence (AI), are being used by banks to automate and speed up data-intensive processes, such as credit approvals and anti-money laundering checks. But ML models’ reliance on historical
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