Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
  1. Home
  2. Search

Refine search

Refine search

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

1 results

  • 21 - Artificial Intelligence in Financial Services

  • from Part VI - Responsible Corporate Governance of AI Systems
  • Edited by Silja Voeneky, Albert-Ludwigs-Universität Freiburg, Germany, Philipp Kellmeyer, Oliver Mueller, Albert-Ludwigs-Universität Freiburg, Germany, Wolfram Burgard, Technische Universität Nürnberg
  • Book:
    The Cambridge Handbook of Responsible Artificial Intelligence
    Published online:
    28 October 2022
    Print publication:
    17 November 2022, pp 359-376
    • Chapter
      • You have access
      • Open access
    • PDF
    • HTML
    • Export citation

  • Summary

    In this chapter, Mathias Paul explores the topic of AI systems in the financial industry. After outlining different areas of application of AI in the financial sector and different regulatory regimes relevant to robo-finance, the author analyses the risks emerging from AI applications in the financial industry. He argues that AI systems applied in this sector usually do not create new risks. Instead, existing risks can actually be mitigated through AI applications. The author then analyses personal responsibility frameworks that have been suggested by scholars in the field of robo-finance, and shows why they are not a sufficient approach for regulation. He concludes by discussing the Draft AI Act proposed by the European Commission as a suitable regulatory approach based on the risks linked to specific AI systems and AI based practices.