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AI Models Eliminate Bias For Digital ID

– PYMNTS

Labhesh Patel, chief technical officer and chief scientist at Jumio, discusses the potential for AI to replicate human teams that currently verify identities

Patel shared his viewpoints on the ability to craft AI models that verify a human’s identity, prevent fraud, or eliminate human bias.

“We’re a long way from the days when companies created datasets from huge swaths of pictures and profiles culled from social media, gathered without cross-checking or consent. Patel said regulation is catching up to bias in data sets, and we might see a not-too-distant future when vendors must give assurance that there’s no bias in the models they are providing to financial institutions (FIs) and other companies.”

Patel also notes the potential for such AI solutions to work in the Know-Your-Customer (KYC) space.

For example, a bank could decide after looking at an email address and conducting a quick phone check that it has enough information to verify the individual’s identity. On the other hand, a different individual might be subject to further scrutiny to assign the person a risk profile based on additional, triangulated data provided by the platform

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