The Asian Bankers Association (ABA) and the International Compliance Association (ICA) held a successful webinar on “AI, Ethics, and Compliance: Navigating the New Digital Landscape” on 24 October 2024 gathering over 840 registered participants from 47 countries.

Summary

The 60-minute insightful webinar, moderated by ICA President Pekka Dare and featuring AI Expert Robin Lee, explored how organizations can navigate the ethical and compliance challenges of AI.

Mr. Lee provided practical strategies for balancing AI’s innovative potential with regulatory and ethical considerations. Here are some key takeaways from the event:

Key Takeaways

• AI Bias and Fairness: Real-world examples illustrated the risks of biased AI algorithms. Experts emphasized the importance of building fair, unbiased systems to maintain public trust.
• Transparency and Accountability: The need for transparent, accountable AI systems was a major theme, with recommendations on clear documentation and auditability to ensure regulatory compliance.
• Aligning with Compliance Standards: Speakers shared guidance on integrating compliance requirements like GDPR into AI systems, underscoring the value of responsible innovation.
• Balancing Innovation with Ethical Responsibility: Panelists discussed fostering a culture that prioritizes ethical practices, protecting both organizational reputation and public trust.

The session concluded with a list of actionable measures that could help embed ethical considerations in the implementation of AI’s capabilities in an organization. Registered participants interested in getting more information about the webinar please contact Ruo Yee at the International Compliance Association.

A video recording of the webinar can be viewed at the ABA YouTube HERE