Imbalanced datasets are a common challenge in AI and machine learning, leading to biased models that favor majority classes while underrepresenting minority classes. This bias can significantly impact the fairness and accuracy of predictions, especially in critical applications like healthcare, finance, and criminal justice.
Several techniques, such as resampling methods (oversampling, undersampling), cost-sensitive learning, synthetic data generation (e.g., SMOTE), and algorithmic modifications (e.g., ensemble methods, loss function adjustments), have been proposed to address this issue.
I am looking for insights on the most effective and recent strategies for mitigating bias in AI models trained on imbalanced datasets.
Which methods have you found most useful in your research?
Are there any novel approaches or frameworks that have shown promising results? Additionally, how do these techniques compare in terms of computational efficiency and real-world applicability?