Author: Marc Garay
Publisher: NTT Data
Publication Year: 2021
Summary: The following article discusses how a financial institution can implement compatible ethical guidelines when trying to implement machine learning to keep up with the needs of the market. One way is being transparent with how the algorithm was created. Being able to explain how the algorithm reached a certain result, being able to trace where the data is coming from, and being able to communicate that users are interacting with an algorithm are 3 important things to keep in mind when trying to be transparent about the use of artificial intelligence (AI). Another way to follow ethical guidelines is by implementing fairness. “Any artificial intelligence technology should not only guarantee access to all individuals, regardless of their age, gender, race, sexual orientation, political or religious views but it should also guarantee that the decision-making processes aren’t influenced by any type of bias.” Finally, security and privacy should also be considered for ethical guidelines when implementing machine learning. Making sure the algorithm is protected from cyberattacks thus protecting the private information the algorithm may have in the form of data.