“For me, AI ethics follows AI robustness. Remember, in the nineties Europe let the US dominate the internet. If AI ethics boards in Europe slow down our progress, we will just pass the AI ball on to China to show us what the future is. We need AI ethical reviews for sure, but it may be better for that to come a bit later in development.”
This is a conversation with Michael Berns. Michael is a Director at PwC where he leads the AI and FinTech Practice. He is an AI Thought Leader & FinTech Veteran, with 17 years of international experience on five continents. His “AI in Financial Services” PwC study, (with 150 participants) was released on May 11th this year.
In this episode, Michael explains that the variation in digital and AI readiness still varies too much around Europe and the globe. He talks about AI ethics and how AI is being used in FinTech, including the mindset difference between challenger and legacy banks.