Ethical Ai in Banking: Balancing Innovation With Responsibility
Year: 2024
Type: article
Abstract: The integration of Artificial Intelligence (AI) in banking promises enhanced efficiency, personalized services, and innovative solutions. However, the deployment of AI in this sector is fraught with ethical challenges, including bias, transparency, accountability, and data privacy concerns. This paper explores the pitfalls associated with implementing AI-based solutions in banking and proposes strategies for integrating ethical considerations to mitigate these challenges. Through examining real-world case studies and existing frameworks, we provide recommendations for banking institutions to adopt Ethical AI, ensuring trustworthiness, compliance, and societal benefit.
Author: Researcher
Language: English
Subfield: Safety Research
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6893039983
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