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Ariel C. Jan 13, 2025
Knowledge Share
Last active over 7 days
Last active over 7 days
*Navigating AI Transformation in Finance*

Artificial intelligence (AI) is revolutionising the financial industry, offering unparalleled opportunities to enhance customer experience, drive growth, and improve financial resilience. From personalised investment advice to smarter credit offerings and AI-powered underwriting, the integration of AI allows financial institutions to deliver tailored, customer-centric services.

Yet, with great potential comes great responsibility. Ethical challenges, such as biased algorithms, manipulative advertising, and profit-driven recommendations, threaten to undermine trust in financial AI systems. A recent survey revealed that 80% of consumers are concerned about AI misuse in finance, underscoring the need for robust ethical frameworks and regulatory compliance.

How can financial institutions balance innovation with ethical integrity?

By leveraging behavioural science, organisations can:
∙ Train AI models on inclusive, bias-free data to promote fairness and transparency.
∙ Develop ethical credit scoring systems that broaden access to financial services.
∙ Avoid manipulative AI-driven advertising that exploits consumer vulnerabilities.
∙ Design consumer-focused investment tools that align with clients’ best interests.

https://www.linkedin.com/pulse/ai-transformation-finance-ariel-s-cecchi-phd-yqume

Visit us: https://behaviouralfi.com
Follow us on LinkedIn: https://www.linkedin.com/company/behavioural-finance-consulting/
 

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