Bias in AI-based financial services: Is your firm at risk?

Artificial intelligence (AI) is increasingly gaining ground in a number of areas of banking and financial services. It’s deployed to identify fraud, make trading decisions, recommend banking and financial products, and evaluate loan applications. This helps to reduce the costs of financial products and improve their efficiency and efficacy. However, there is growing evidence that AI systems are biased. Join American Banker’s Executive Technology Editor, Penny Crosman as she explores the following issues with Sonja Kelly, Director of Research and Advocacy at Women’s World Banking and Wisam Dakka, Co-Founder of Meemo. - What is AI bias? - Why is it important for financial services firms to avoid it? - How can you detect and ensure fairness in financial services AI