Deutsche Bank and Linklaters have joined the initiative to accelerate financial innovation safely
Elly Yates-Roberts |
Microsoft is launching a new project to operationalise responsible artificial intelligence (AI) principles in the Asian financial services industry (FSI).
Deutsche Bank and law firm Linklaters have joined the initiative, which aims to accelerate safe innovation in the sector and build on the growing number of Asia-based entrepreneurs who want to develop principles for the use of AI in FSI.
The firms are studying how AI principles can be applied across different financial services scenarios, for example using AI to inform lending decisions for retail banking customers or for investment banking research.
Simulating AI applications will generate important insights for the use of risk management tools and governance and operational mechanisms to ensure that AI is used responsibly.
The partners will conduct workshops over the coming months and publish the findings of their work at the Singapore FinTech Festival in November 2019.