FairPlay AI

The world's first Fairness-as-a-Service company. Our clients achieve higher profits and fairer results, with no increase in risk. Play Fair, Win Big with FairPlay.

http://fairplay.ai

11-50 employees

Growth Trajectory

FairPlay is expanding its reach through partnerships with financial institutions like Pathward and Upgrade, focusing on developing innovative AI-powered tools to improve fairness metrics and automate compliance. They are also targeting growth by expanding credit access to underserved groups through Special Purpose Credit Programs and offering solutions for fairness-aware marketing and underwriting. Market expansion is signaled through their focus on Fintechs, Banks, and Sponsor Banks.

Technical Challenges

Identifying and de-biasing proxies for protected classes.

Quantifying and correcting multi-variate bias in AI models.

Redlining mapping and statistical modeling to assess geographic fairness.

Developing algorithms that minimize tradeoffs between performance and disparity.

Scaling real-time de-biasing capabilities to handle large volumes of data.

Tech Stack

AIStatistical modelingProxy DetectionMulti-variate bias correctionCookiesClear GIFsPixel tagsFlash Local Storage Objects

Team Size

Key Risks

Tradeoffs between performance and disparity in fair lending models could lead to suboptimal business decisions.

Increased regulatory scrutiny and the need to prove fairness to regulators and the public pose compliance risks.

Competition from other companies reaching LMI and MM communities could threaten market share.

Failure to adapt to evolving fair lending trends and regulations could result in legal and reputational damage.

Difficulties in quantifying and correcting multi-variate bias in AI models could limit the effectiveness of their solutions.

Opportunities

Further refinement of AI-powered fairness assessment tools can enhance their competitive advantage.

Expanding credit to underserved groups through Special Purpose Credit Programs can unlock new market segments.

Continued partnerships with financial institutions can strengthen their market position and expand their reach.

Developing alternative underwriting and pricing models can improve fairness and profitability.

Leveraging technology advancement areas like algorithmic fairness and AI in financial services to improve fairness in finance.

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