BACKGROUND
Artificial Intelligence (AI), a blend of computer science,
machine learning, and big data, is increasingly being adopted in
various industries, especially in financial technology (Fintech).
This shift towards AI-driven processes aims to enhance business
efficiency and transaction speed. However, it also introduces
unprecedented risks, necessitating a behavioural framework or code
of conduct to optimise AI usage and mitigate risks.
On 24 November 2023 at the Fifth Indonesia Fintech Summit &
Expo 2023, Indonesia's Financial Services Authority
(Otoritas Jasa Keuangan or OJK), in partnership with
several other organisations,2 launched its
code-of-ethics guidelines (Guidelines) to work towards responsible
and trustworthy artificial intelligence within the Fintech
sector.3 This framework aligns with global standards
adopted by the Organisation for Economic Co-operation and
Development (OECD) AI Principle4 and the
