![]() ![]() ![]() “The discriminatory and even predatory way in which algorithms are being used in everything from our school system to the criminal justice system is really a silent financial crisis,” says O’Neil. ![]() Like the dark financial arts employed in the run up to the 2008 financial crisis, the Big Data algorithms that sort us into piles of “worthy” and “unworthy” are mostly opaque and unregulated, not to mention generated (and used) by large multinational firms with huge lobbying power to keep it that way. In both cases, the effects are hard to track, even for insiders. O’Neil sees plenty of parallels between the usage of Big Data today and the predatory lending practices of the subprime crisis. ![]()
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