Blog algorithmic audit of companies and organizations
Amidst the ever-changing landscape of the financial world, mid-sized banks find themselves entangled in an intricate tapestry of challenges and opportunities. Among the myriad facets that occupy the forefront of their operations, risk management emerges as a paramount concern. As these financial institutions aspire to attain stability, foster growth, and adhere to regulatory standards, the importance of a meticulously structured …
In May, ProPublica released a groundbreaking article titled “Machine Bias,” authored by Julia Angwin and Jeff Larson. This eye-opening piece delved into the world of algorithmic bias, shedding light on the startling disparities found in recidivism risk models. Recidivism risk models are tools used in the criminal justice system to assess the likelihood of a defendant returning to prison. The …
In today’s data-driven world, the importance of harnessing the potential of data cannot be overstated. Todd Schneider, a data scientist and engineer, has made significant contributions to this field through his work on what he calls “Medium Data.” In this article, we will delve into the concept of Medium Data, explore Todd Schneider’s contributions, and understand how it can benefit …
Cathy O’Neil, a mathematician, data scientist, and author, broke barriers with her revealing book “Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy.” The book unveils the potential perils of blind faith in mathematical models, particularly when these models wield significant influence over people’s lives without their knowledge. Unveiling the “Weapons of Math Destruction” The term “Weapons …
In the rapidly evolving landscape of financial technology, algorithms are becoming the cornerstone of decision-making processes. They determine who gets a loan, who gets a credit card, and even who gets access to certain services. However, as these algorithms gain prominence, a critical issue has emerged: algorithmic bias. This problem came into sharp focus when the Apple Card, launched in …
In today’s data-driven world, the quality and integrity of information are paramount to decision-making and success in various industries. As we generate, collect, and analyze vast amounts of data, it becomes essential to ensure its accuracy, consistency, and reliability. Enter the concept of a data audit, a systematic review of data to assess its quality and the processes involved in …
In today’s dynamic and interconnected financial landscape, the ability to navigate and mitigate risks swiftly is paramount for the success and stability of financial organizations. The rapid pace of technological advancement, coupled with the ever-evolving global economic landscape, has rendered traditional risk management approaches insufficient. To thrive in this complex environment, financial institutions are increasingly turning to real-time risk analytics …