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Axios' Russell Contreras (L) and National Fair Housing Alliance CEO Lisa Rice (R). Photo courtesy of Axios Events

Racial biases in technology and artificial intelligence can amplify discrimination in the housing market for people of color, president and CEO of the National Fair Housing Alliance Lisa Rice said at an Axios Event aired Tuesday.

Why it matters: AI is playing a larger role in housing decisions like tenant selections and loan approvals. The tech holds the potential to aid people of color and others who have historically faced discrimination on this front — but only with proper care for both algorithms and training data, Axios' chief technology correspondent Ina Fried wrote earlier this year.

What they're saying: "People have this erroneous belief that computers or technological systems cannot see race. Nothing is further from the truth. In fact, computers and technologically based systems, A.I., artificially intelligent systems can see race. Those systems can see national origin, and they don't dissipate the bias that is already existent in the marketplace," Rice said.

  • "They mirror and reflect the bias that is existence already in our marketplace. And sometimes they actually amplify the bias that is replete throughout the market."

Go deeper: Race and housing in America

Watch the full event here.

Go deeper

Rep. Yvette Clarke: Inclusive tech companies "will win in the end"

Axios' Ina Fried and Rep. Yvette Clarke (D-N.Y.). Photo: Axios

Tech companies that "crack the code on ultimately having true, inclusive decision making will win in the end," Rep. Yvette Clarke (D-N.Y.) told Axios at a virtual event on Wednesday.

Why it matters: Biases seen in the algorithms created by tech companies to test how AI can moderate hate speech, eliminate cash bail, grade university-entrance exams, or approve bank loans often originate from the biases of the humans creating them.

Mark Meadows will stop cooperating with Jan. 6 panel, attorney says

Photo: Chris Kleponis/Polaris/Bloomberg via Getty Images

Former White House chief of staff Mark Meadows will no longer cooperate with the House select committee investigating the Jan. 6 Capitol insurrection, his attorney told Fox News Tuesday.

Why it matters: Meadows, who failed to appear before the panel last month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.

Updated 4 hours ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

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