Rohit Singh London shares his professional opinion on whether predictive analysis will save or destroy humanity.

1. JUNE 20TH, 2019
Will Predictive
Analysis Save
Humanity or Destroy
It?
Rohit Singh London

2. Data sets have grown incredibly large. This makes it possible for
marketers to infer future consumer behavior from consumer’s previous
purchasing patterns. Yet, consumers have not directly consented to
provide purchasing data for the purpose of predictive analytics. This is
the part of the scenario where ethical questions arise.
Consumers have not granted marketers, or anyone else, direct consent to
make inferences based on their data. Companies can use inferences to
inform algorithms. These algorithms then have the potential to cause bias
or to embed procedural unfairness into otherwise objective systems.
PREDICTIVE SCALE

3. This might not seem to matter, but inference has power. Risk analysis tools are
designed specifically to infer risk. They can be used during loan acquisition,
house purchases and even job application processes. Any situation in which a
company is at risk triggers a need for predictive analysis.
What began as a marketing tool has become a powerful underwriting
decision-maker. Since predictive analytics is still in its early stages of
implementation, the need for ethical intervention is pertinent.
THE POWER
OF INFERENCE

4. PHirsch explains that predictive analytics are helpful. They make it simple
to get a quote on an insurance rate, for example. They also assist in small
things, like getting a hint about the next movie you might want to watch.
But when left unregulated, even the most benign inferences can impact
decisions. Without regulation, decisions like who gets to buy a house, who
gets to post bail or who gets an offer for a free flu shot can be biased.
When it comes to ethics, Hirsch recommends establishing an agency to
evaluate how companies are using data. He suggests using these four
factors:
Privacy
Manipulation
Bias
Procedural Fairness
ETHICAL
CONSIDERATIONS

5. ROHITSINGH.ORG.UK
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Kyobi Arts Networking Group 2020