Ethically Responsible Machine Learning in Fintech

نویسندگان

چکیده

Rapid technological developments in the last decade have contributed to using machine learning (ML) various economic sectors. Financial institutions embraced technology and applied ML algorithms trading, portfolio management, investment advising. Large-scale automation capabilities cost savings make attractive for personal corporate finance applications. Using applications raises ethical issues that need be carefully examined. We engage a group of experts ethics evaluate relationship between principles ML. The paper compares experts’ findings with results obtained natural language processing (NLP) transformer models, given their ability capture semantic text similarity. reveal integrity fairness most significant relationships ethics. study includes use case SHapley Additive exPlanations (SHAP) Microsoft Responsible AI Widgets explainability tools error analysis visualization models. It analyzes credit card approval data demonstrate can address fintech, improve transparency, thereby increasing overall trustworthiness show both humans machines could err approving requests despite best judgment based on available information. Hence, human-machine collaboration contribute improved decision-making finance. propose conceptual framework addressing challenges fintech such as bias, discrimination, differential pricing, conflict interest, protection.

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ژورنال

عنوان ژورنال: IEEE Access

سال: 2022

ISSN: ['2169-3536']

DOI: https://doi.org/10.1109/access.2022.3202889