Building trustworthy AI

A comprehensive approach to conduct, data protection, and ethics

Customers are increasingly interacting with financial services (FS) firms through digital channels. Reduced human interaction requires firms to use AI and data analytics to understand and serve customer needs better.

In this paper, we explore the key areas of interaction between conduct, data protection and ethics in the context of AI applications which have a direct impact on customer outcomes. We bring these to life through an illustrative case study - identifying and supporting vulnerability in a digital banking journey - and highlight what firms need to do to build trustworthy AI solutions.

Our analysis and exploration of these issues are designed to inform and support boards, senior management and digital leads who are responsible for reviewing and challenging AI-enabled customer solutions.

About the Centre for Regulatory Strategy, EMEA

The Deloitte Centre for Regulatory Strategy is a powerful resource of information and insight, designed to assist financial institutions manage the complexity and convergence of rapidly increasing new regulation.

With regional hubs in the Americas, Asia Pacific and EMEA, the Centre combines the strength of Deloitte’s regional and international network of experienced risk, regulatory, and industry professionals – including a deep roster of former regulators, industry specialists, and business advisers – with a rich understanding of the impact of regulations on business models and strategy.

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