JP Morgan Invests 10 Million in FairPlay to Fight AI Bias

AI is making more decisions about people’s lives than ever before. Like who gets a loan, which insurance rates apply, and even who sees a job posting. But when these algorithms aren’t checked for bias, they can end up reinforcing discrimination rather than eliminating it. That’s where FairPlay comes in. The Los Angeles-based Fairness-as-a-Service company has just secured $10 million in funding from Infinity Ventures, JPMorganChase, and Nyca Partners to help financial institutions and other businesses ensure their AI-driven decisions are fair and unbiased. This funding comes as FairPlay reports a threefold increase in business in 2024, a clear sign that companies are realizing the need to audit their algorithms for hidden biases. AI-powered decision-making is the future, but withou