Ethical considerations of AI in financial services
As AI in finance continues to revolutionise the industry, it brings both remarkable opportunities and significant ethical challenges. From enhancing operational efficiency to providing personalised financial solutions, AI is reshaping everything from day-to-day accounting operations to customer experience. However, the rapid adoption of generative AI in finance raises crucial concerns about bias, privacy, compliance, and security. To ensure responsible use, businesses must prioritise key ethical considerations, implement strategies to mitigate risks, ensure transparency, and promote inclusivity. Addressing these challenges will not only optimise the benefits of AI in financial services but also contribute to building a more equitable, secure, and sustainable financial landscape.
