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About Artificial Intelligence in Finance
This document summarizes a paper on regulating artificial intelligence (AI) in the finance sector. It discusses how AI is rapidly being adopted in finance for tasks like robo-advising. However, AI also presents regulatory challenges around issues like opaque "black box" decision-making and data dependencies. The paper argues that the most effective approach is to strengthen internal governance at financial firms through external regulation that requires humans to oversee AI systems. Specifically, it suggests implementing manager responsibility frameworks that make senior executives accountable for AI, potentially augmented by independent AI review panels, to help address problems while avoiding over-regulation of the technology.
Detailed Information
Author: | ['patternproject'] |
---|---|
Publication Year: | 2022 |
Pages: | 50 |
Language: | English |
Format: | |
Price: | FREE |
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