Yuning Li (Peking University School of Transnational Law) has posted “Trusted and Trustworthy Algorithmic Fiduciaries” on SSRN. Here is the abstract:
The Digital Age is speedily transforming into the Algorithmic Age, where algorithms carry on or contribute to a significant number of important social, economic, and technical decision-making. Apart from platform dominance, private governance, and surveillance capitalism, private and public use of algorithmic decision-making faces an increasingly severe legitimacy crisis of not being trusted or trustworthy. Three phases of Algorithmic Fiduciaries will accompany us into the ultimate human-centered symbiosis relations individually between human and intelligent algorithms. Trusted and trustworthy algorithmic fiduciaries are vitally important in maximizing the joint potentials and capabilities to significantly benefit the algorithms and the humanities.
This paper consists of three parts. First, it proposes the idea of “algorithmic fiduciary” and argues that the trusted and trustworthy algorithmic fiduciary is important. Second, it researches government policies and regulations, industry norms, civil society proposals, and other actions within the Government-Company-NGO Triangular on algorithmic decision-making in the European Union and the United States. Third, it evaluates how these actions impact trusted and trustworthy algorithmic fiduciaries.