In a rapidly evolving world, the power of technology has become inextricably linked with finance and public policy, holding the potential to drive equity across different sectors. On the latest episode of “Equity and Focus,” host Kevin E. Hooks sat down with Marius Sposato, a financial analyst at the Brookings Institution, to explore how artificial intelligence, or AI, and finance are shaping a more inclusive future.
Sposato’s journey — from his diverse upbringing to his evolving role in finance — highlights the importance of leveraging technology to advance economic equality. As Hooks notes, “emerging technologies and people of color — we have got to become players in that game.”
A story of diversity, dedication and growth
Sposato’s personal story is a rich tapestry of cultural influences and professional dedication. Born in Washington D.C. to parents from Guinea and New York, Sposato grew up with a unique perspective on the disparities between different communities. His mother’s West African heritage and his father’s experience as an economist have significantly shaped his view on public policy and finance.
“Having that perspective of seeing how far Guinea has come, and how far it still needs to go compared to the U.S., is crucial,” Sposato explained. This global outlook informs his mindset on how to understand how policy and finance impact equity
Education has always been a pillar of Sposato’s career. Despite the challenges posed by the COVID-19 pandemic, he pursued a master’s degree in data analytics, adding a technological layer to his finance background. His experience in both finance and tech — particularly in the housing sector — has equipped him with the tools to explore how AI can drive change.
“Every step of my journey led me to see how finance and technology can intersect to create real opportunities for underserved communities,” Sposato pointed out.
The role of AI in shaping an inclusive financial future
AI is reshaping industries, and Sposato is at the forefront of this revolution within the financial services sector. As he sees it, AI has the potential to address systemic issues — particularly in housing — which remains one of the largest sources of wealth for many Americans.
“AI will likely be the future of setting prices in the housing market, determining how much we build and ensuring that systems are built equitably,” he said.
One of the key areas Sposato focuses on is the role of AI in mitigating bias in financial services. In processes like home appraisals — where human judgment has often resulted in systemic disparities for communities of color — AI could level the playing field. However, he acknowledges that careful oversight and proper implementation are crucial to avoid repeating past mistakes.
“How can we build these systems so that they ensure fairness? Society will never be completely fair, but we can certainly get it closer,” Sposato emphasized.
A tool for bridging the gap in AI and equity
For Sposato, education is a crucial element in ensuring that marginalized communities are not left behind in the AI revolution. As he observed, while access to technology in schools is improving, it’s critical that students are taught not just to use computers, but to understand how AI and large language models work.
“If society is going to be run by robots, we need to understand how they work. Otherwise, we’re going to leave people behind,” Sposato noted.
“Until the lions learn to write, the hunters will always be glorified,” Hooks echoed Sposato’s sentiment, reflecting on the African proverb.
It’s a powerful reminder of the need for underrepresented communities to have the tools and knowledge to tell their own stories and advocate for equity in spaces dominated by emerging technologies.
Building an equitable future through AI
As the conversation came to a close, Sposato offered advice to young professionals, particularly those from underrepresented backgrounds, who are entering the finance and tech sectors.
“There’s a huge opportunity here to expand AI into different areas, including communities that haven’t had access to these tools before. If we don’t share that knowledge, we’ll leave people behind,” he said.
In a world where technology is increasingly driving economic opportunities, conversations like this remind us of the importance of equity. Marius Sposato’s insights are a beacon for those looking to harness the power of AI and finance for the greater good.
AI assisted in summarizing this episode of Equity in Focus.
