The House Financial Services Committee created its Task Force on Artificial Intelligence to determine how to use AI in the financial services industry and examine issues surrounding algorithms, digital identities, and combating fraud. On February 12, the task force held its latest hearing, “Equitable Algorithms: Examining Ways to Reduce AI Bias in Financial Services,” which featured the testimony of five expert panelists.

Congressman Bill Foster (D-IL), chairman of the task force, set out the hearing’s scope: what does it mean to design ethical algorithms that are transparent and fair, and how do we program fairness and have decisions explained to us?

Learn more about the panelists’ testimony and the questions that committee members raised here.