Article 13. Bridging the purpose-risk gap: Customer-first algorithmic risk assessments

Spoken (by a human) version of this article.

Banks and insurers sometimes lose sight of their customer-centric purpose when assessing AI/algorithm risks, focusing instead on regular business risks and regulatory concerns.

Regulators are noticing this disconnect.

This article aims to outline why the disconnect happens and how we can fix it.

Report mentioned in the article: ASIC, REP 798 Beware the gap: Governance arrangements in the face of AI innovation.

About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).