Ethics is the main area of concern for the public facing decisions made by AI-driven models. This issue needs a high level of focus and skills that actuaries can provide. Very often, AI models take over decisions and can have strong bias, with a dramatic impact on organisations both in financial and reputation terms, as well as on individuals.

This working party is focussing on developing a good or best practice framework for governing and managing the risks associated with the use of new AI and data-driven techniques by the financial services industry.

Chair: Brandon Horwitz

Established: 2022