The Ethics of AI in Banking: A Philosophical Perspective

Artificial intelligence (AI) has revolutionised several industries, and the banking industry is no exception. AI has completely changed the way financial institutions function with its potential to be efficient, accurate, and innovative. But as these technologies advance, they also present difficult moral conundrums that need close examination. The ethical and philosophical aspects of integrating AI into banking are explored in this book, The Ethics of AI in Banking: A Philosophical Perspective.
Our goal in this work is to investigate the effects of using AI in domains including investment strategies, fraud detection, credit scoring, and customer interactions. We investigate whether the use of AI is consistent with social values, justice, and human dignity by drawing on ethical theories, real-world case studies, and philosophical ideas.
This book does not aim to disparage AI or uncritically exalt its potential. Rather, it offers a fair-minded viewpoint and a framework for assessing the moral implications of AI-driven choices. This book offers guidance for navigating the changing nexus of AI and ethics in financial services, regardless of your background—banking professional, legislator, student, or ethicist. Our strong interest in philosophy and technology drove us to write this book. It is our hope that our study will stimulate careful discussion and responsible AI adoption across industries