67 ing amount of responsibility towards our society . Some of these organisations have already started to face pressures with regards to data privacy and security , leading to an increasing lack of consumer trust and reputational crises . Therefore , when organisations , large or small seek to embrace AI they must take an ethical first approach and recognise their great responsibility . So how do they do this ?
First , it is important for financial organisations to establish a clear set of ethical guidelines and frameworks around the use of AI to instil confidence and build trust . A recent House of Lords report titled ‘ AI in the UK : ready , willing and able ?’ highlights the need for “ ethics to take centre stage in AI ’ s development and use ”, and our research shows that those who begin their AI journey by creating core ethical values are 28 %
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