Ethics of Algorithms. Ethical Challenges and Outcomes of Algorithmic Decision-Making

Seminar paper from the year 2019 in the subject Business economics - Business Ethics, Corporate Ethics, grade: 1,3, University of Hamburg, language: English, abstract: This study tries to answer these questions and investigates the ethical challenges of ADM (Algorithm Decision Making) arisen in the context of ethical decision-making and their ethical outcomes. Algorithms and algorithmic decision-making simplify and improve people's lives and create new values for our society. ADM is used by banks to establish creditworthiness or by the police to calculate the likelihood of future crimes. It is used in agriculture, aviation, the insurance industry, and many other business areas. ADM is becoming increasingly essential and plays a crucial role in our daily life. However, the use of algorithms is not just about opportunities and benefits. ADM hides significant risks and creates further ethical challenges. The ethics of algorithms is a provocative topic that causes a lot of controversies. As well as the application of ADM in the ethical context. Is it ethical to use algorithmic decision-making? Is the decision-maker "moral aware" of applying ADM?. Does moral awareness about the ethical implications of ADM always lead to ethical decisions?