Background Information: A Technology Consultant is working on an innovative product that has a high consequence on evaluating credit-worthy citizens who are underserved by banks or misrepresented by traditional credit scoring agencies.
Theme: Addressing Systemic Inequity, Creating an Inclusive Environment
Theme (Explained): The initiative was a collaborative project with the FTC that addressed data consent, privacy, blind spots in statistical analysis of big data, and limitations of machine learning in evaluating an evolving demographic like the African American community. Since machine learning is biased in favor of historical trends and a larger volume of data, structural and cultural discrimination that plagued the community continues to be a hindrance to upward mobility.
The applicant proposed a 3-step process to ensure that the algorithms evolved with customer intervention and data correction. By presenting an underlying weakness in machine learning algorithms and establishing a human-intervention mechanism, the new process is already delivering results in Phase 1 of the review process.
Profile: Technology Consultant
Industry: Finance
Similar Narrative (Industries): Investment Banking, Venture Capital, Technology
MBA Essay Strategy: The Strategy is to present the solution and the applicant’s soft skills – interviewing stakeholders and introducing proactive interventions in the essay.
Opener: The opener in any narrative around changing a system, culture, or technology should ideally present the problem in the opener itself, especially when you have less than 300 words to play with.
Sample Columbia MBA PPIL Essay: Changing Biases in the Algorithm (244 Words)
While I was excited to work on an innovative product that shortlisted clients eligible for mortgages from underserved communities, I soon recognized the inherent biases in machine learning algorithms. While collaborating with the FTC, the Chairman proposed the application of the Fair Credit Reporting Act (FCRA) ..
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