Earlier quoted context omitted.
>The credit score system already in place in the US is frequently as arbitrary in some cases already. The credit score system is not arbitrary, it's a specific formula that applies equally to everyone. >You get punished for just looking at it. No you do not. There are hard inquiries and soft inquiries, and an individual viewing their own credit score is considered a soft inquiry which has absolutely no effect on your…
> it's a specific formula that applies equally to everyone. That doesn’t mean the formula is reasonable or transparent. An AI is also a specific formula that applies equally to everyone. It’s about how the formula takes “weight” on the individual’s differences. > There are hard inquiries and soft inquiries Why there are “hard inquiries”? Why someone else inquiring my credit score should affect my credit score?
You can learn literally everything you need to know about how the FICO credit scoring systems works in probably two or three hours of dedicated research, even though the model itself is a trade-secret. When lenders deny credit, they're legally obliged to provide the specific reasons why.
This is not-even-in-the-same-ballpark as AI, where no-one can even tell you how inputs relate to outputs, not even the creators.