When the AI goes haywire, bring on the humans

Published by
Reuters UK

By Paresh Dave OAKLAND, Calif. (Reuters) – Used by two-thirds of the World’s 100 biggest banks to aid lending decisions, credit scoring giant Fair Isaac Corp and its artificial intelligence software can wreak havoc if something goes wrong. That crisis nearly came to pass early in the pandemic. As FICO recounted to Reuters, the Bozeman, Montana company’s AI tools for helping banks identify credit and debit card fraud concluded that a surge in online shopping meant fraudsters must have been busier than usual. The AI software told banks to deny millions of legitimate purchases, at a time when con…

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