AI and finance: opportunity or risk?

12 Apr AI and finance: opportunity or risk?

Will AI help people understand their financial options or increase bias and exclusion? How can automated advice take account of people’s social and environmental motivations?  And how can AI reflect changing values over time and between generations?

The Finance Innovation Lab has released a new briefing on Ethical AI in finance, drawing on a roundtable held in March 2018 with experts from banking and fintech, policymaking, consumer groups and civil society. The briefing argues that the financial industry should create a new, compulsory professional qualification for people working with AI intended for use in the finance sector, including ethical considerations and social risks, and regulators should expand the focus of their work on AI from processes to real-world outcomes.