Responsible Artificial Intelligence (AI) in Banking and Insurance
In the words of Einstein, "Technological progress is like an axe in the hands of a pathological criminal." This statement underscores the intricacies of technology. Artificial Intelligence (AI), beyond just ChatGPT, empowers intelligent machines to make decisions about loans, employment, claim handling, and more. However, AI is far from flawless. The intricate models sometimes result in incomprehensible decisions, which can lead to unconscious bias and severe errors.
Examples, such as Amazon's biased HR Analytics, Apple Card (wrongfully) being accused of discrimination against women, and Netflix's potential prediction of sexual orientation, highlight the pitfalls. We will shed light on the risks faced in the financial sector, and solutions like stricter regulation, heightened awareness, and responsible AI tools. It's imperative that we acknowledge both the potential and pitfalls of AI. By prioritizing responsibility and ethics, we will be able to make informed choices and positively shape the future of AI within the banking and insurance sectors.
By the end of this training, participants will be able to:
- define responsible AI and recognize its significance in the financial industry;
- identify and analyse the main risks associated with AI deployment in banking and insurance;
- understand the concept of fairness in AI and its implications for non-discrimination;
- explain the importance of explainable AI and its relation to regulatory requirements;
- evaluate the risks and opportunities of generative AI in financial applications.
These objectives aim to provide participants with a comprehensive understanding of responsible AI practices, particularly in the context of banking and insurance. By examining real-world examples and case studies, participants will gain insights into potential pitfalls, ethical considerations, and the tools necessary for shaping a responsible AI future.
Total price *
Members: € 330
Non-members: € 360
Partner BZB: € 330
Incompany: tailor-made, prices on request
* Price: service in the context of continuing professional training, exempt from VAT
CPD Hours
Banking: 3h general
Insurances: 3h general
Compliance: 3h general
Mortgage credits: 3h general
Consumer credits: 3h general
Continuing Professional Development
Exam/CPD
500176 permanent education mortgage loans
500176 permanent education consumer loans
600.013 permanent education banking
700.010 permanent education insurance
/ permanent education compliance
Please let us know you're interested in this training should there be no date available, the planned date does not suit you and/or this session is full. As soon as about 5 people are registered on the interest list, we will propose a new course date. Your registration on the interest list is free of charge and without any obligation.
Target group
This training course can be followed by multiple target groups:
- legal and regulatory professionals;
- compliance officers;
- Fintech entrepreneurs;
- data protection officers;
- technology and IT professionals;
- risk Managers;
- financial analysts and consultants;
- data analysts;
- all employees in financial sector;
- …
Required prior knowledge
Advanced level training: this training requires a general basic knowledge of the subject.
Programme
CONTENT
- Introduction
- Responsible AI: Definition and Significance
- Main Risks of AI (Non-discrimination, Privacy, Black Box)
- Fairness in AI
- Understanding Non-discrimination and Protected Groups
- Origins of Bias in AI Models
- Measuring Fairness in AI
- Mitigating Bias in AI
- Case Studies: Credit Scoring and HR Analytics
- Explainable AI
- Importance of Explaining Predictive Models
- GDPR and AI Act Requirements for Explanation
- Link Between Explainability and Fairness
- Case Studies: Credit Scoring, Fraud Detection, and Healthcare
- Generative AI: Risks and Benefits
- Potential Risks of Generative AI
- Opportunities in Generative AI
- Responsible AI Governance
- Establishing a Responsible AI Program
- Key Components of AI Governance
- Conclusion
PRACTICAL INFORMATION
- Duration: ½ day of training (3 class hours)
- Hours: 09:00 to 12:30
- Location: Febelfin Academy: Phoenix building, Koning Albert II-laan/Boulevard du Roi Albert II 19, 1210 Brussels
- Language: This training will be given in English
Methodology
You follow a ‘Classroom training’ in a group. You, the other participants and the teacher are all present in the same classroom at an agreed time. There is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).
Training material:
- PowerPoint presentation (slides)
Teachers
David Eric K Martens
Compliance & audit
Risk, finance & treasury
