Oracle Promotes Responsible Use Of AI In Financial Institutions
Oracle News, October 4th, 2021
October 4, 2021,
Volume 283, Issue 1
New governance capabilities for financial crime and compliance management help banks boost the transparency and fairness of AI models to help address regulatory obligations
"A recent World Economic Forum survey found that 85% of financial institutions have implemented AI, but some still have concerns about its use. To help financial institutions apply AI responsibly, Oracle has added new AI governance capabilities to its Oracle Financial Services Compliance Studio application. With a new visualization canvas that fosters more inclusive machine learning model creation, alerts for potentially sensitive issues, and new in-memory sandboxes to more easily create and refine models, banks can help weed out bias and uncertainty in applying the power of AI to fight money laundering and other financial crimes. These new model management and governance capabilities will also soon be implemented with PwC's Model Edge solution..."
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