Question 1 of 30
Globex Enterprises, a multinational financial institution, recently deployed an AI-powered loan application processing system across its global branches. Following the initial deployment, several branches in historically underserved communities reported a significantly higher rate of loan application denials compared to branches in more affluent areas. An internal audit revealed that the AI model, while demonstrating high overall accuracy, exhibited a bias against applicants from specific postal codes associated with these underserved communities due to skewed training data reflecting past lending practices. The company aims to adhere to ISO 42001:2023 standards and rectify this issue to ensure fairness and compliance. According to ISO 42001:2023 guidelines regarding nonconformities and corrective actions within an Artificial Intelligence Management System (AIMS), what is the MOST appropriate immediate step Globex Enterprises should take to address this bias in its AI-powered loan application processing system?
Implement a corrective action plan to address the root cause of the bias and prevent its recurrence in future AI model deployments.
Immediately halt all AI-driven loan application processing in all branches globally until a completely new AI model can be developed from scratch.
Adjust the AI model's parameters to artificially inflate approval rates in the affected postal codes to match those of affluent areas, ensuring immediate statistical parity.
Issue a public statement acknowledging the potential bias but continue using the AI system while conducting further research on the long-term effects of the bias.

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