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EU banks' Big Data use must be ethical, EBA says

By Jack Schickler ( January 13, 2020, 13:22 GMT | Insight) -- EU banks' Big Data use needs to be explainable and bias-free, the European Banking Authority has said, as a survey showed that two out of three lenders have advanced analytics functions in production. The report comes as regulators come under increasing pressure to understand the risks of AI in the financial sector, and control the use of data hoovered up from the Internet.EU banks' Big Data use needs to be explainable and bias-free, the European Banking Authority has said, as a survey showed that two out of three banks are producing functions that use advanced computer-powered analytics. ...

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