Using AI to drive financial inclusion

Ethical AI solutions can lead to more equitable outcomes

- UMA GANESH

ARTIFICIAL INTELLIGENCE (AI) based tools are increasingly being recognised as necessary for transformation of business and governance in all sectors of the economy. However, there are concerns about the likely impact of AI on the economic gap that exists between the haves and the have-nots, particularly in the developing nations where the gap is already significant.

Al solutions are built around how data is accessed and utilised. Data models that exclude those segments of the society who have limited access due to the digital divide, would mean decisions made in favour of the segment with higher access to the internet. Those who converse in minority languages would also be subjected to suboptimal data models not representative of their profiles.