By construction, the world of big data is siloed and segmented and segregated so that successful people, like myself - technologists, well-educated white people, for the most part - benefit from big data, and it's the people on the other side of the economic spectrum, especially people of color, who suffer from it. They suffer from it individually, at different times, at different moments. They never get a clear explanation of what actually happened to them because all these scores are secret and sometimes they don't even know they're being scored.
Cathy O'NeilWe've learned our lesson with finance because they made a huge goddamn explosion that almost shut down the world. But the thing I realized is that there might never be an explosion on the scale of the financial crisis happening with big data.
Cathy O'NeilEspecially from my experience as a quant in a hedge fund - I naively went in there thinking that I would be making the market more efficient and then was like, oh my God, I'm part of this terrible system that is blowing up the world's economy, and I don't want to be a part of that.
Cathy O'NeilI would argue that one of the major problems with our blind trust in algorithms is that we can propagate discriminatory patterns without acknowledging any kind of intent.
Cathy O'NeilThe training one receives when one becomes a technician, like a data scientist - we get trained in mathematics or computer science or statistics - is entirely separated from a discussion of ethics.
Cathy O'NeilThere are lots of different ways that algorithms can go wrong, and what we have now is a system in which we assume because it's shiny new technology with a mathematical aura that it's perfect and it doesn't require further vetting. Of course, we never have that assumption with other kinds of technology.
Cathy O'Neil