OPINION: AI Ethics Are Not Optional - Markets Media

Ethical artificial intelligence and machine learning may sound like an undergraduate elective, but it is a topic that financial institutions need to address urgently. Firms are exposing themselves to a new type of risk as they either develop AI and machine-learning models or rely on the growing number of third-party model providers. Do these new models harm a specific subset of the population or unintentionally use practices that market regulators have deemed illegal? It can be hard to tell since AI and machine learning engines are good at dealing with black and white, but are horrible when it comes to shades of gray. These engines are only as good as the data that feeds them.