Are there any laws governing the use of computer algorithms for automated decision making in finance, insurance, and healthcare?

Yes, New Mexico has laws governing the use of computer algorithms for automated decision making in finance, insurance, and healthcare. Under the “Unfair Practices Act,” it makes it unlawful to use computer algorithms to make automated decisions that are biased. In other words, the algorithms must be designed to be fair and not discriminate against any person, group, or class of individuals. Additionally, New Mexico’s Human Rights Act also prohibits the use of computer algorithms to make decisions based on a person’s race, religion, gender, or other similar categorizations. The state has also established a set of guidelines for healthcare organizations using computer algorithms to make automated decisions regarding patient treatment options. These guidelines are intended to ensure that such decisions are based solely on the patient’s best interests and not on any discriminatory factors. Finally, the state has also established a set of regulations for computer algorithms used in the financial sector. These regulations are intended to ensure that these algorithms are used responsibly and not to manipulate the markets or take advantage of consumers. In summary, New Mexico has put in place laws and guidelines to ensure that computer algorithms used for automated decision making within the finance, insurance, and healthcare sectors are used responsibly and without discrimination.

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