Ethical Use of Big Data in Financial Services

Author: N/A

Publisher: Institute of Chartered Accountants in England and Wales

Publication Year: N/A

Summary: The following article introduced 3 groups of principles and respective examples that could potentially identify, prevent and resolve ethical tensions in the financial sector. A finance company needs to have a systems and data architecture that include data sources, how it is ingested and stored, how it is processed, streamed and published and where it is used in analysis, proofs of concept and development-use cases. As a data scientist, having a holistic view of where and how the company is using big data is crucial. It is necessary to research and record the weaknesses in algorithms and data, along with where the algorithms and data are in their lifecycle.