For many of the businesses running these rogue algorithms, the money pouring in seems to prove and it makes sense. When they’re building statistical systems to find customers or manipulate desperate borrowers, growing revenue appears to show that they’re on the right track. The software is doing its job. The trouble is that profits end up serving as a stand-in, or proxy, for truth. This happens because data scientists all too often lose sight of the folks on the receiving end of the transaction. They certainly understand that a data-crunching program is bound to misinterpret people a certain percentage of the time, putting them in the wrong groups and denying … Continue reading Cathy O’Neil