Spencer Fane attorney Shelli Clarkston guest-authored an article for In Touch Magazine discussing the business use of artificial intelligence (AI).
In her piece, AI In Lending Decisioning And Unintended Discrimination, Shelli discussed the risks of using AI in the financial lending industry in particular and noted that businesses must protect against algorithmic discrimination.
“As a financial institution utilizing these technologies, it will be crucial for your institution to conduct appropriate due diligence on the technology service provider,” Shelli said. “[This] should include a review of the third party’s algorithmic impact assessments, which should include disparity testing results and mitigation information.”
At Spencer Fane, Shelli provides financial institutions of all sizes with proactive legal counsel on regulatory and compliance matters, allowing them to conduct business and complete transactions with more precision, speed, and cost-efficiency. She collaboratively develops and implements compliance programs, best practices, and policies with a specific focus on enterprise and program risk management.
Read the full article here.
