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The Best of AI and the Best of Human Thinking

Looking Back on RiskMinds International Conference

Deloitte was the proud partner of RiskMinds International Conference, the worlds’ leading risk management event in financial services. More than 700 senior risk management decision makers from across the globe got together to cover every hot topic in risk.

At the 3 day conference, Aimee van Wynsberghe addressed the importance of ethics in Artificial Intelligence in her presentation. According to Aimee: 'It has to be a collaborative arrangement between the best of Artificial Intelligence and the best of human thinking, that is when we really get the best of the technology.'

 

Responsible use of Artificial Intelligence

Financial services often have mature governance of financial risk models in place, including frameworks to address issues related to advanced algorithms (or AI). Applying existing governance and extending it where needed can offer companies a solid basis when it comes to addressing questions about the ethical and responsible use of AI. A bank, for instance, may have several hundreds of financial risk models that are under governance, but up to tens of thousands of advanced algorithms that are not – ranging from marketing models to non-financial risk assessment models.

Aimee: 'It's important for companies to have a strong governance mechanism in place. So that while technology is changing, they also understand that they have to keep their eyes attuned to the possible ethical "emerging" risks that they haven't thought about before. And to make sure that they have people in place who are really meant and focused to be looking at those risks.'

 

 
 

Panel discussion: whose risk is it?

We’re looking back on an insightful panel discussion about the impact of digitalization in respect to risk management, AI, corresponding (new) risks and owners of these risks. With a diverse team – a supervisor, academic and two CROs - the panel discussion was accommodated to a broad set of topics, such as:

  • Changes in the industry on the topic of responsible use of AI
  • AI ethics guidelines and their value in the finance sector
  • Increased use of technology and the corresponding "emerging" risks
  • The whole evolution of digitalization and how this impacts the Risk functions
 

Watch the interview with Aimee van Wynsberghe about ethics and artificial intelligence

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