BloombergBusiness reports JPMorgan Chase is unveiling a program that uses algorithms to predict and identify “rogue” employees. “It’s very difficult for a business head to take what could be hundreds of data points and start to draw any themes about a particular desk or trader,” said a company representative. “The idea is to refine those data points to help predict patterns of behavior.” Meanwhile, the Federal Trade Commission (FTC) is looking into algorithmic transparency in the consumer market. FTC Chief Technologist Ashkan Soltani said, “To date, we have very little insight as to how these algorithms operate, what incentives are behind them, what data is used and how it’s structured.”
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