CHAPTER 51AI Trust, Ethics, Transparency and Enablement

By Kevin Telford1

1Advisor, Thoughtworks

Technology continues to grow exponentially into all aspects of our life. Increasingly, financial decisions are made by machines harnessing data and honed by human construct. An ethics void thrives in an invisible, untested, dark data world of science, where artificial intelligence (AI) and machine learning (ML) reside. Investors, entrepreneurs and innovators are increasingly curious about the value of a principled digital application of trust, transparency, ethics on AL and ML. Visionaries see the value for people and the increased returns trusted organizations will deliver. This chapter, titled beyond AI Reg-Tech takes us to a vision where trusted financial services (FS) organizations embrace a standard of trust, ethics, transparency and enablement (TETE) framework. Leading organizations to an AI/ML “kitemark” standard.

What Is Intelligent Empowerment and Why Is it Topical?

For investors, entrepreneurs and visionaries, change has many agents, including legislation such as the EU second Payment Services Directive (PSD2) and the General Data Protection Regulation (GDPR) and the spreading of the Internet of Things (IoT), open banking and connected life – all this maximizes opportunities for innovation and growth. At the intersection of creativity and enabling technology lies an abundance of new products, services and infinite new data sources. We label this “intelligent empowerment” ...

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