[visarga]

Do they remove the human in the loop? That doesn't seem like a smart idea. A model would be good just for suggestions.

Humans are both biased and with high variance (not to mention corruptible), but the algorithm can benefit from much better scrutiny and ensure uniform application of the criteria. If a human overrides, then they got to have a good reason.

[seanhunter]

In Europe you have an absolute right to a human making your loan decision[1]. So if a loan decision is made automatically you can request a human decision instead.

[1] https://ec.europa.eu/info/law/law-topic/data-protection/refo...