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CFA – Lost in (Machine) Translation? The Ethics of AI and Big Data in Financial Services

3 October 2019 - 14:00 - 17:00

The Ethics Committee of CFA Society VBA Netherlands is proud to present this year’s annual conference:

The Ethics of AI and Big Data in Financial Services

Join us to explore both the amazing opportunities and novel risks that AI and big data create in the financial sector. How can we harness these new developments to provide our clients with innovative services without losing sight of our duty to handle personal data in an ethical manner?

Are AI and big data going to give us unprecedented opportunities or are they actually affecting our freedom? How does AI change the way we invest? Do AI and big data lead to better investment returns or a better choice in responsible investment? And what opportunities are there on the consumer side? Who owns the data that is essential for AI? Is and will that be the consumer? Do consumers and businesses allow others to use their data in whatever way they want? Ethical dilemmas arise with the use of AI and big data. How do we make the right choices? This afternoon, experts will take you through the latest trends and dilemmas.

Increasingly richer data (personal, social, location and financial) is shared with one click. More often than not, people are forced to give permission for our data use as a condition for access to basic services. People are increasingly worried about whether companies are spying on personal data, but the real concern should be whether the data is used to guide behavior. For example, a person’s digital behavior could be used by banks to give customers a sort of “risk score”. This score can be used to evaluate and determine the types of goods and levels of services. By combining financial, personal and social data, companies can allow consumers to know better than they know themselves. This is already the case in the online advertising space, where previous search history and browsing history is used to recommend products and services. This species gets into the realm of human behavior with increasing accuracy. Is it ethically justified for the financial sector to use customer data to steer their spending / investment patterns? To determine their risk profile? To persuade them to buy appropriate financial products? What tangible value does the financial sector offer its customers? Does she serve the customer or herself?

Draft Program
14:00 Registration
14:15 Start Program; topics include:

  • Ethics in AI, a way to avoid regulation?
  • Regulatory guidance and challenges.
  • AI in daily investment practice.
  • AI/Big Data and ethics from technical perspective. What is possible versus what is morally justifiable?

17:00 Networking Drinks
18:00 End of Program

Details

Date:
3 October 2019
Time:
14:00 - 17:00
Event Category:
Event Tags:
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Website:
https://www.cfasociety.org/netherlands/Lists/EventsCalendar/DispForm.aspx?ID=618

Organiser

CFA
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Venue

Symphonys Auditorium
Gustav Mahlerplein 3
Amsterdam, 1082 MA Nederland
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