As artificial intelligence (AI) takes the world by storm, its widespread use raises questions of ethics, transparency, and existential risk, particularly in the fintech landscape. To create safe and secure AI products, fintech institutions are urged to respond to the urgent demand to implement ethical considerations and responsible AI systems. This means putting thoughtful, human-centered design to improve data privacy and security, transparency, accountability, human oversight, and fairness at the forefront of AI advancements.
With responsible finance at its core, GCash underscores the importance of upholding these values as it revolutionizes the financial industry through the launch of its AI Ethics Roadshow under its GCash Good Data for Good initiative. In line with its mission to champion inclusive finance, this initiative aims to effectively utilize AI within its organization and in the fintech space to create a financial future that fosters an ethical climate as well as inclusion and security, ultimately fostering a wave of positive and collaborative change for millions of Filipinos.
“AI is a valuable tool for financial innovation, but it must be developed and implemented with fairness, transparency and strong data security measures. This initiative is part of GCash’s conscious efforts to align AI with a moral compass, human values, fairness, transparency and accountability, which we consider to be a pressing issue that impacts human life, society and the environment,” says Sara Venturina, Chief Data Officer of GCash.
To better adapt to the AI revolution, demonstrate vision and integrity, and confidently navigate the future of fintech, the roadshow included a series of online conferences and training sessions for GCash employees and partners who play an important role in achieving its financial inclusion goal. In addition, this program ensures workforce development, fostering a culture of ethical excellence, adaptability, resilience, and innovation.
As part of its commitment to promoting ethical AI practices, GCash is proud to be a member of the AI Verify Foundation, a global community that brings together AI owners, solution providers, users, and policymakers to create trustworthy AI systems. This membership underscores GCash’s commitment to responsible AI, allowing the company to benchmark its efforts against global standards and further solidify its position on ethical AI integration.
In addition, the GCash Data for Good program also reflects the organization’s commitment to fostering a data-driven, ethical climate within the fintech community. This includes strengthening its credibility in data management and advancing the integration of AI into GCash’s in-app features, including its latest innovations such as GScore AI which calculates users’ creditworthiness and loan eligibility based on their daily app usage, removing the need for additional forms or paperwork, hyper-personalized ads, and GCoach AI, an in-app guide that uses generative AI to educate users on spending, saving, and growing their money.
Similarly, through this initiative, GCash is not only improving its transparent AI decision-making process, coupled with human oversight to ensure it is infused with ethical considerations that prioritize the well-being of its users, but also its risk management by proactively mitigating potential future risks arising from poor data management or the deployment of biased AI models.
“At GCash, we see the rise of AI as an opportunity to explore this next great frontier where the lines between business growth and higher purpose blur into one, where doing good is truly good for business,” says Marah Dimasupil, Head of Data Activation at GCash.
As the country’s largest digital ecosystem, GCash continues to position itself at the forefront of responsible, fair, and ethical use of AI to help build the financial progress of Filipinos through secure, accessible, and innovative financial solutions.
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