RIKARE II:Learning algorithms for non-discriminating financial decision-making of innovative businesses

Purpose and goal

The purpose is to develop an AI prototype to ensure equality in learning algorithms for financiers’ decisions. The goal with the project is a scalable prototype for implementation of a new assessment algorithm for a broader financing and equal and competitive industries.

Expected effects and result

The norm critical approach enables the AI prototype to offer possibilities to build technology with less gender bias compared with previous innovations. Therefore, RIKARE II’s design has very high potential to contribute to gender neutral decisions, equal access to financing, and improve financiers’ business potential. Knowledge dissemination is expected to have positive effects for future assessments and increased equality in financing and for more gender neutral processes in access to finance. The long term effect is highly relevant; equal terms in access to finance.

Planned approach and implementation

With norm critics and algorithms as methods, RIKARE II explores how innovation in AI may reduce subconscious bias for equality in access to finance. RIKARE II builds on a scientific, systematic interactive norm critical approach where experimentation and evaluation of data is used as the arena for developing the algorithm. The iterative norm critical work is the base for developing the algorithm where stereotypical gender norms can be avoided.