The use of artificial intelligence (AI) is poised to grow amid higher origination costs and greater competition, but without correcting the underlying causes of bias in data, AI models can embed racial equity inequality on a larger scale, a recent report from the Urban Institute concluded.

“It must first, however, overcome the biases and inequities already embedded into the data it analyzes. Policymakers and the mortgage industry must reckon with historical and present-day barriers that lock would-be homebuyers of color out of the market altogether,” according to the report published on Monday. 

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