Financial Ethics and Regulatory Considerations in AI Adoption (Synchronous e-Learning)
About This Course
This course examines the ethical and regulatory challenges of artificial intelligence(AI) in the financial industry, focusing on issues like fairness, transparency, and privacy when analysing credit scoring, loan approvals and investment analysis. The course will help students gain a comprehensive understanding of global standards and frameworks for responsibly governing AI applications in financial services. Learners will explore regulatory frameworks, compliance requirements, and key laws, as so as to incorporate environmental, social and governance (ESG) factors into their financial investment strategies and practices. The course provides practical insights into the ethical dilemmas posed by AI-driven financial systems.
This course forms part of the SCTP NUS Digital Finance Project Management with AI which consists of 8 modules.
What You'll Learn
1. Discuss the ethical issues related to artificial intelligence(AI) adoption in the financial industry, considering the effects of fairness, transparency, and privacy in terms of measurement of credit risk, portfolio selection and handling of financial data for clients.
2. Interpret regulatory frameworks and compliance requirements for AI applications in financial institutions and regulatory bodies to ensure ethical and sustainable generation of financial returns.
3. Describe the ethical implications of using AI-driven algorithms in credit scoring, loan approvals, and algorithmic trading, referring to case studies for insights.
4. Explain the core risks and potential harms posed by AI systems when making financial decisions e.g. evaluation of creditworthiness of clients, credit risk rating for firms, along with the characteristics of trustworthy AI and the principles necessary for responsible and ethical AI to help improve financial decision accuracy.
5. Identify global AI-specific laws and the main frameworks and standards that demonstrate how AI systems can be governed responsibly such as governance related to the handling of financial data of clients.
Entry Requirements
General Diploma