Specific Issues for Discussion:
1) How can AI de-risk financial inclusion for vulnerable populations in the APAC context?
While APAC countries have leveraged the internet for financial inclusion, intra-regional disparities in financial access are among the highest worldwide. AI solutions can potentially enable increased financial access and security including micro-credit, loans to informal family enterprises, fraud detection, personalisation in financial services and overcoming traditional access barriers including literacy and language. Panelists will share practical insights about where and how AI solutions can advance financial inclusion in the APAC context both from a regulatory and a consumer protection perspective.
2) Novel challenges of deploying AI solutions in financial services
AI-solution deployment in finance is accompanied by complex challenges including data protection, trust and safety, cybersecurity, and risks of bias, AI-powered deception and manipulation and amplifying existing vulnerabilities and marginalisations. Many APAC countries do not yet have a data protection law and similar digital rights protections in place.
3) Enduring lessons from previous financial technology deployments in APAC
Given the discussion on the opportunities and challenges posed by AI for financial inclusion, panelists will share insights from their on-ground experience in deploying and researching technology deployments in financial services across diverse parts of APAC to draw lessons that could inform AI deployment for financial inclusion.
4) Way forward for APAC:Principles and safeguards for trustworthy AI for financial inclusion
Finally, the panelists will share their insights on key principles and safeguards that must be adopted to ensure the region reaps the benefits of trustworthy and secure AI-powered innovation and positive societal impact, while minimising unforeseen harms.
