TechTalk Audio: Responsible AI in finance

Artificial intelligence is increasingly affecting essential areas of our daily lives – such as finance. Rudraksh Bhawalkar, global delivery lead for Accenture's Internal Responsible AI Program, explains in the third episode of TechTalk Audio on responsible AI why this topic is particularly important when it comes to means of payment, lending or insurance premiums.

Tobias Imbach spoke with Rudraksh Bhawalkar

To the point:

- AI is widely used in the financial sector. If there is a bias in the data or in the logic of the algorithm, credit limits might be reduced or credit card applications rejected based on gender, skin color or nationality.

- The good thing about AI is: it learns. The downside is: it learns everything and does not know what is good and what is bad.

- To ensure that an AI does not make decisions that have a negative impact or harm someone, we need to do thorough testing and proper scoring of the outputs of synthetic as well as real data.

- Responsible AI helps people use products and services to their benefit.

- More important than technology are culture and change management: responsible AI principles must be mapped with a company's strategic goals.

HOW CAN WE TRUST AI?

Can and should sophisticated technologies make or influence decisions that can be of great importance to individuals and society?

In principle, yes – but only if the AI is based on a trustworthy system.

Learn more in this blog post.