AGAINST EXPLAINABLE ARTIFICIAL INTELLIGENCE IN LAW: WHY JUSTIFIABLE AI MATTERS. A CREDIT SCORING EXAMPLE
AGAINST EXPLAINABLE ARTIFICIAL INTELLIGENCE IN LAW: WHY JUSTIFIABLE AI MATTERS. A CREDIT SCORING EXAMPLE

Summary/Abstract: Artificial intelligence-based solutions offer new efficiency-increasing possibilities in many applications, including credit scoring. Yet, the increasing sophistication of machine-learning models in use raises concerns regarding many of their aspects, explainability notwithstanding. We review the relevant EU legal background and integrate this review with insights from technical sciences to interpret relevant legal provisions in the light of technological possibilities. We reject the narrow interpretations of the right to explanation and suggest the broad one, which encompasses not only technical explanations but also a legal justification as the only one that allows for safeguarding the creditors’ rights in an operative manner.

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