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Ethics and Financial Markets: The Role of the Analyst
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Author: Marianne M. Jennings; Publisher: The Research Foundation of CFA Institute; Publication Year: 2013. The following article discusses how the ethical issues that financial professionals face are no different from the ethical issues in any profession—or, indeed, the day-to-day dilemmas we all face. These issues are readily resolved through the use of 3 simple questions:…
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The importance of an ethical AI implementation in the financial industry
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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…
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How Data Brokers Sold My Identity
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Author: Madhumita Murgia; Publisher: TED; Publication Year: 2017. In the following talk, Madhumita discusses how data privacy is still a huge issue. Even though data is anonymized there are still key identifying information such as gender, zip code, etc. that can narrow down the potential people it could be. When this data is shared and…
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AI Usage in Banking is Forcing the Conversation around the Ethical Use of Data
Author: Lisa Shields; Publisher: Inside BIG DATA; Publication Year: 2020. The following article talks about how over the past few years, the financial services industry has made huge strides in adopting new technologies like artificial intelligence (AI) into its workflow. The cache of data that banks can access holds endless potential to create valuable new…
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Bias in Machine Learning Examples: Policing, Banking, COVID-19
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Author: Lisa Morgan; Publisher: Tech Target; Publication Year: 2020. The following article discusses how human bias, missing data, data selection, data confirmation, hidden variables and unexpected crises can contribute to distorted machine learning models, outcomes and insights…
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The Rise of AAAI: How a Data Ethics Framework Drives Value
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Author: Leanne Allen; Publisher: KPMG International; Publication Year: 2020. The following article discusses how COVID-19 accelerated the implementation of Advanced Analytics and Artificial Intelligence (AAAI), and this trend changed how customers interact with financial companies. On the other hand, financial companies reported a 3% decline in consumer trust after the outbreak of COVID-19. Now, the…
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Ethical Use of Customer Data in a Digital Economy
Author: N/A; Publisher: KPMG International; Publication Year: 2019. The following article is written by KPMG Digital and Technology Department employees. It touches on financial institutions’ principles, policies, and data ethics guidelines. The report points out how the financial industry should be transparent about what data it collects and utilizes. The authors also talk about how…
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A.I. Bias Caused 80% Of Black Mortgage Applicants To Be Denied
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Author: Kori Hale; Publisher: Forbes; Publication Year: 2021. The following article describes a specific instance of an unethical artificial intelligence (AI) program where across the board minorities are being rejected from mortgage requests at higher rates than their white counterparts. Black Americans were 80% more likely to be denied, Latinos 40% more likely to be…
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Sexist and Biased? How Credit Firms Make Decisions
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Author: Kevin Peachey; Publisher: BBC News; Publication Year: 2019. The following article describes how in November 2019, a tech entrepreneur reported that he was approved credit 20 times more on his Apple Card than his wife, even though they have equal shares in their property and file joint tax returns, and she even had a…
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Ethical Use of Big Data in Financial Services
Author: N/A; Publisher: Institute of Chartered Accountants in England and Wales. Publication Year: N/A. 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…
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