The cost of bias in AI fintech

We’ve been discussing bias in AI on the programme for more than a year now but what is the actual cost of it? KPMG is publishing a report, commissioned by the fintech company Finastra, which examines the size of global consumer lending markets and the potential impact of algorithmic bias in money lending decisions. Amber Sappington, Head of Data & Analytics at Finastra, discusses the potential problems and why there’s an urgency for the industry to acknowledge the problem and act on it.Problematic Smartphone Use ‘Smartphone addiction’ has been in the news, following the publication of a new study by the Institute of Psychiatry, Psychology & Neuroscience Library at King’s in London. However, ‘Smartphone addiction’ is not a recognised medical condition. Gareth speaks with Dr Nicky Kalk, one of the authors of the study, about problematic smartphone use, and if it will be recognised as an illness. Virtually Shakespeare The Royal Shakespeare Company, the Philharmonia and Epic Games are amongst 15 organisations who are premiering a new live performance of “Dream” (which was inspired by A Midsummer Night’s Dream) using motion capture to tell the story of Puck. The aim is to create a shared live experience between a remote audience and a group of physical performers where the live audience can directly influence the world of the actors. Unlike a regular live stream, audiences will play an active role in world-building and the wider storytelling experience, as they would in any gaming environment. Reporter Hannah Fisher has more.The programme is presented by Gareth Mitchell with expert commentary by Ghislaine Boddington.Studio Manager: John Boland Producers: Emil Petrie and Ania LichtarowiczImage: Young woman uses digital tablet on virtual visual screen at night Credit: dowell/Moment/Getty Images