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AI and ethics

Publish date: 27 September 2019
Issue Number: 14
Diary: CompliNEWS Ethics
Category: Ethics

As decision-making factors using artificial intelligence (AI) become more accepted, pure economics might not align with the softer strategies of a bank. Many financial institutions are questioning how artificial intelligence must be governed within an organisation and how it can be taught to align with a bank’s brand and ethos, but without influence from human judgement. So notes Finextra in a recent posting.

While AI has dominated news headlines, the majority of global announcements and research has been around the ethics of the actual technology and how to manage or avoid bias in data. In April 2019 for instance, a fortnight after it was launched, Google scrapped its independent group set up to oversee the technology corporation’s efforts in AI tools such as machine learning and facial recognition.

Full Finextra article

Another articles in the Finextra series:

AI and enhancing the human element in financial services

 

Working Smart

By Lee Rossini

Corporate Social Responsibility (CSR) refers to a company's commitment to manage its operations in an ethical, sustainable and socially conscious way. It involves going beyond the pursuit of profits to consider the impact of business decisions on people, the environment and society at large. CSR can cover a broad range of activities, from reducing carbon emissions, reducing unnecessary waste and ethical labour practices to community engagement and transparent governance. While CSR is often associated with large multinational corporations, its principles are just as relevant – and increasingly expected – in small businesses, including financial advice businesses.

CPD

Subscribers are reminded that they can complete monthly CPD quizzes and claim CPD hours before the 31 May 2025 deadline. View the CPD FAQs for more on accessing the CPD quizzes.

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