Bankers embrace new guidelines for ethical AI

IBM has outlined principles to promote transparency -- and foster public trust -- in the way companies use artificial intelligence. The principles call on banks and other organizations to designate a lead AI official, own up to their use of the technology, explain it and test it for bias. Bankers say they're already on it. IBM unveiled the principles last month at Davos through its new IBM Policy Lab. The goal was to provide guidance for developing intelligent policy that will provide societal protections without stifling innovation.