Year: 2025
Type: article
Abstract: The ethical implications of using artificial intelligence (AI) in financial decisionmaking are analyzed in this paper.It underscores the necessity of an ethical framework to guarantee its fair and reliable deployment.The study examines various ethical considerations, including the need to address algorithmic bias, promote transparency and explainability in AI systems, and adhere to regulations that protect equity, accountability, and public trust.The paper delves into the intricate connections between AI advancement and ethical considerations within the financial sector.Based on research and real-world examples, the paper analyzes the potential ethical dilemmas arising from AI innovation in finance.To address this issue, the paper proposes a comprehensive and actionable ethical framework that advocates for clear guidelines, governance structures, regular audits, and collaboration among stakeholders.This framework seeks to optimize AI's benefits while mitigating its negative consequences and unintended side effects.This framework prioritizes the ethical and safe development and deployment of AI.
Language: English
Subfield: Safety Research
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4408491191