The COVID-19 crisis has fast-tracked innovation plans and the use of AAAI to tackle immediate challenges in financial services – for example, we’ve seen chatbots introduced to replace in-branch transactions. On the path to recovery, we expect to see AAAI play an increasingly important role, redefining how customers interact with financial services.
As living and working patterns evolve, firms are adopting increasingly sophisticated AAAI to help enhance customer experiences and provide insights that can support business decisions. That requires the collection of more and more data. And this gives rise to new risks and the potential for ethical breaches.
So how can you manage these new risks? The adoption of a data ethics framework can minimise the potential risks posed by AAAI. It also provides greater transparency on how data is being used, helping to maintain customer trust.