Dutch Central Bank publishes discussion paper on the use of AI in the financial sector

The Dutch Central Bank (DNB) has published a discussion paper on the repsonsible use of AI in the financial sector, and welcomes responses until 18 October 2019: https://www.dnb.nl/en/news/news-and-archive/DNBulletin2019/dnb385020.jsp

Comments

Enviado por Kai Salmela em Ter, 07/30/2019 - 07:35

Hello.

 

One suggestion that may have an impact - Would it be impossible to give for a customer  somekind of a brief summary how AI made that decision?  For example those customers that received negative recommendation from the AI system, would understand why bank is denying their loan ( for example ), or those who had positive recommendation, would understand their relative position on market.

Giving understandable ( non-financial jargon ) report may help the acceptation of an AI for the banking business, help people to understand their financial position and increase banking and AI transparency in a meaningfull way.

Technically this report is very easy job, but how to form a report that is accurate but in the same time very understandable one, is an other task entirely and it will need  specialists as well as lot of testing in order to be realised.

Since EU is now started the standardization of an AI , banking sector should be awake and participate to it with the questions and suggestions. In that way European AI standard will be better and more usefull for everyone.

I hope that these thoughts were what You were looking for .

 

 

wbr Kai Salmela AI Specialist

Prizztech Robocoast DIH

 

Em resposta a por Kai Salmela

Enviado por Silvie Spreeuwenberg em Ter, 07/30/2019 - 09:34

Explainability is important to get a good value of an investment in AI. So I agree. And it is also more ethical. I am writing a book on this topic. Meanwhile there are some posts on my linkedin that may be of interest to you because i did some research on what makes up a good explanation. See: https://www.linkedin.com/pulse/what-makes-explanation-good-silvie-spree… 

Em resposta a por Silvie Spreeuwenberg

Enviado por Kai Salmela em Qua, 07/31/2019 - 09:23

Hi , and thank you for your answer.  For some reason link to your post is not accessible with the /  -ending - works fine without it.

Interesting post.  When Your book is available , please let me know - thanks you.