Tag: ethical AI

In the dynamic realm of risk management, pivotal factors are reshaping the role of risk executives. Financial crimes compliance, a pivotal aspect of risk management, necessitates vigilance and innovative strategies. Among these, four key factors—Revenue, Cost, Ethics, and Regulation—stand as paramount forces propelling risk leaders into the future.

The technological revolution is making the job of compliance officers increasingly intricate. From record-keeping to monitoring approved communication channels and adapting to the ever-changing world of social media advertising, the list of challenges seems endless. A burning question for many is the potential influence of large language models (LLMs) on their profession. Will LLMs simplify their tasks or add complexity?

Artificial intelligence is becoming a common sight, but there are still fears around using the technology and ensuring it is not being misused.

Many RegTech ventures use artificial intelligence, but when they do it is essential that they do so in an ethical way.

Microsoft has joined the Veritas consortium launched by the Monetary Authority of Singapore (MAS) to improve the trust of the use of artificial intelligence in the financial industry.