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TheWestAustralian

National Agenda

Banks, telcos join major government-led review into AI

NAB, CBA, Telstra and Microsoft have signed up to test “checklist” to ensure absolute privacy, reliability and fairness, and decrease mistrust in the use of AI systems. 

  • One of the principles the Government has put to the big banks to improve AI processes is “reliability”, which is hoped to improve service delivery 
  • Reliability, transparency and fairness have also been flagged as principles, with the technology used in processes from recruiting staff to credit scoring and the granting of loans 

Takeout

There are concerns that ongoing AI decision-making in these areas is not strictly fair or “ethical”. Indeed, the regulatory environment surrounding the use of AI in all fields is a rapidly emerging issue that needs to be addressed, potentially impacting marketers, brands, media and tech platforms.