BigData in Africa: without any protection - Shivani Siroya TEDx - "A smart new business loan for people with no credit" - When AI takes over - and calls all the shots - and nobody knows why it decides what it decides

Shivani Siroya@TEDx: “A smart new business loan for people with no credit”

this sounds way better than… (clever marketing) reality…

https://ytpak.net/watch?v=kSR8G8mfp84

https://ytpak.net/watch?v=kSR8G8mfp84

https://ytpak.net/watch?v=kSR8G8mfp84

reality…

[video width=”628″ height=”368″ mp4=”https://dwaves.de/wp-content/uploads/2022/03/2022-03-23\_Tala\_mobile\_lending\_App\_in\_Kenya.mp4″\]\[/video\]

https://ytpak.net/watch?v=EV88RmUzRP8

  • “alright…” (no not alright)
  • thanks for the video ktn, great journalism needs to tell the truth! not display marketing only!
  • “it is not a app where you can get money, and live of the face of the earth…”
    • “you will delete the application and nobody will know that you have taken that amount? no, your profile still exists”
  • “risk based pricing, we are able to assess the risk of the borrower, from 15% to 5%”
  • Q: “what would give me 90% (rating)?”
  • A: “this is machine learning, there is no human intervention… the machine sends your data through our database and will score you… we pick thousands of thousands digital datapoints, that makes it predictive, accureate” (but nobody knows (not even the developers!!?!?!?!?) why it decides to give you a B and not an A rating)
  • so on the one hand it is good, Africa does not care, how much data is collected about individuals, because that’s the only way they can get a loan, because banks EVERYWHERE simply FAIL to do their CORE TASK:
    • bankers should look at the people and their projects and then lend money (good not too greedy conditions).
  • Africa’s governments probably have bigger problems, but they also need to protect the data of their citizens from big corporations trying to exploit it.

#linux #gnu #gnulinux #opensource #administration #sysops #africa #ted #tedx #alternatives #loans #afrika #tala #finance #credit #score #bigdata #privacy #surveillance #apps #tracking #mobile #lending

Originally posted at: https://dwaves.de/2022/03/23/data-protection-clearly-does-not-exist-in-africa-shivani-siroya-tedx-a-smart-new-business-loan-for-people-with-no-credit-when-ai-takes-over-and-calls-all-the-shots-and-nobody-knows-why-i/

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