Artificial intelligence in banking - Human Rights Impact Assessment Tool
Discover how to conduct human rights impact assessments on AI systems in banking, with practical guidance for financial institutions to ensure ethical
Summary
Banks are increasingly using artificial intelligence (AI) to improve efficiency and boost customer satisfaction.
However, it's important that they consider the impact on human rights when integrating AI into decision-making systems.
We developed this tool with National Australia Bank to assist banks to do this.
AI in banking - HRIA Tool
A tool to assess the risks of AI in banking
About the Impact Assessment Tool
The Human Rights Impact Assessment Tool (HRIA Tool) helps banks consider and measure the risk to human rights posed by AI decision-making systems.
It assists them in implementing strategies to address risks and provide remedies for any human rights violations.
If AI is not integrated responsibly into decision-making systems, there may be serious consequences for customers and the banking industry itself.
The tool's development aligns with our report on human rights and technology. It recommends that the private sector undertake HRIAs before using AI systems.
Ethical guidance
Read our guidance on AI and discrimination in insurance.
