What are the risks of using AI in banking?
An example of an AI chatbot conversation about the risks of AI in banking.
What are the risks of using AI in banking?
The main risks include data privacy concerns, algorithmic bias, and potential job displacement.
Can you explain algorithmic bias?
Algorithmic bias occurs when AI systems produce unfair outcomes due to biased training data or flawed algorithms.
How can banks mitigate these risks?
Banks can mitigate risks by implementing robust data governance, regular audits, and ensuring diverse training datasets.
What about the impact on customer trust?
Customer trust can be affected if AI systems are perceived as opaque or if they make errors that harm customers.
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