Interesting topic "the Apple and Goldman Sachs Credit Card", that was discussed on a webex I watched this morning.
"A tech entrepreneur, David Heinemeier Hansson, first raised the issue when he tweeted that the Apple Card’s algorithms discriminated against his wife, giving him 20 times the credit limit it had given to her. Apple cofounder Steve Wozniak weighed in asserting that he can borrow ten times as much as his wife on their Apple Cards. Hansson said his wife has a better credit score than he does, and that the couple file joint tax returns. Similarly, Wozniak and his wife also file joint returns and share credit card and bank accounts."
The picture that’s been painted is of an AI algorithm that has been able to find a proxy for gender which the algorithm is using to determine credit limits. “My belief isn’t there was some nefarious person wanting to discriminate. But that doesn’t matter. How do you know there isn’t an issue with the machine-learning algo when no one can explain how this decision was made?” Hansson said in an interview with Bloomberg.
Here is a link to the full article:
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