AMF releases major report on responsible use of artificial intelligence in finance

MONTRÉAL, Nov. 22, 2021 /CNW Telbec/ - The digital transformation, which has only gained speed during the pandemic, is unfolding in all sectors of our society and economy. Personalized financial product and service offerings, made possible in part by artificial intelligence (AI) systems, benefit both consumers and financial institutions, but, for the latter, they also come with ethical, legal and reputational risks. The Autorité des marchés financiers (the "AMF") believes these are important issues requiring its consideration. The AMF has therefore decided to initiate a serious dialogue about the responsible use of AI in the financial industry. To assist it in meeting this challenge, the AMF sought input from Marc-Antoine Dilhac, Associate Professor of Ethics and Political Philosophy at the Université de Montréal, and a key contributor to the work that led to the launch, in 2018, of the Montreal Declaration for a Responsible Development of Artificial Intelligence (the "Montreal Declaration").