At The Money: Fan Favorite - Algorithmic Harm

I'm Hannah Frey. And as we rely more and more on artificial intelligence in every facet of our lives and businesses, I'm on a mission to find out how we can build the Internet that AI needs. Learn more later in the podcast. These days, it seems like AI agents are just about everywhere you turn, every field and every function. But without identity, you can't trust they'll serve your business instead of jeopardizing it. Fortunately, Okta helps you get identity right by securing your AI agents identities, giving you a single layer of control, a single standard of trust. So whether an AI agent supports a single user or your entire enterprise, with Okta, you'll turn risk into opportunity. Secure every agent. Secure any agent. Okta secures AI. Small businesses are the pulse of every community. They bring people together, create opportunities, and drive growth. Chase for business helps business owners like you with personalized guidance and convenient digital tools all in one place. With that guidance and your determination, you can take your business farther and help build a brighter future for your community. Learn more at chase.com/business. Chase for business. Make more of what's yours. The Chase mobile app is available for select mobile devices. Message and data rates may apply. JPMorgan Chase Bank, NA. Member, FDIC. Copyright 2026. JPMorgan Chase and Company. Bloomberg Audio Studios. Podcasts, radio, news. Algorithms are everywhere. They determine the price you pay for your Uber, what gets fed to you on TikTok and Instagram, and even the prices you pay in the supermarket. Is all of this algorithmic impact helping or harming people? To answer that question, let's bring in Cass Sunstein. He is the author of a new book, Algorithmic Harm, Protecting People in the Age of Artificial Intelligence, cowritten with Oren Bar Gill. Cass is also a professor at Harvard Law School and is perhaps best known for his books on Star Wars and coauthoring Nudge with Nobel laureate, Dick Thaler. So, Cas, let's just jump right into this and start by defining what is algorithmic harm. Okay. So let's, use Star Wars. So let's say the Jedi knights use algorithms, and they give people things that fit with their tastes and interests and information. And people get if they're interested in books on behavioral economics, that's what they get at a price that suits them. If they're interested in a book on Star Wars, that's what they get at a price that suits them. The Sith, by contrast, take advantage with algorithms of the fact that some consumers lack information and some consumers suffer from behavioral biases. So we're gonna focus on consumers first. If people don't know much, let's say, about health care products, an algorithm might know that, that they're likely not to know much and might say, we have a fantastic baldness cure for you. Here it goes, and people will be duped and exploited. So that's exploitation of absence of information. That's algorithmic harm. …