Through a $5 million grant, Mastercard will support the creation of the Center for Applied Data Science and Analytics (CADSA) on Howard’s campus focused on addressing racial bias in AI-driven credit approval processes.
Mastercard and Howard University are pleased to announce today a new dimension to their partnership with a $5 million grant from Mastercard that will support the creation of the Center for Applied Data Science and Analytics (CADSA). The center will advance Howard’s leadership as a major hub of data science for social impact research and training for the next generation of data scientists with expertise in incorporating analysis of racial bias in financial services.
“Data science touches everything, and it’s going to continue to be increasingly impactful in everything that we do,” said Howard University Provost and Chief Academic Officer Anthony K. Wutoh, Ph.D. “We’re grateful for the partnership with Mastercard in enabling us to use data science to answer some of the broader societal questions we believe Howard can significantly impact, including those around health care and economic disparities”
CADSA is an interdisciplinary hub at Howard University that will include a master’s degree in applied data science and a thought leadership series on racial equity and inclusive growth. Black communities face unique challenges and algorithmic bias in financial services and specifically with credit decisions, and CADSA will conduct research examining how data science can contribute to minimizing racial bias in credit approval processes.
“For the last five years, the Center has prioritized creating the field of data science for social impact. Data is embedded in nearly every facet of our lives and ensuring it is used responsibly and positively impacts society’s most pressing issues is paramount,” says Salah Goss, Senior Vice President for Social Impact for the Mastercard Center for Inclusive Growth, the company’s philanthropic hub that is administering the grant. “Howard University is taking a novel approach to addressing data science research by investing in a new generation of professionals who can combine the rigor of science with broader societal impact.”
