‘Grace' is a lifelike robot nurse, built with
artificial intelligence to bring emotional care for patients during
the pandemic and make them feel comfortable and at ease.
Artificial intelligence (AI), the self-didactic technology which
detects patterns from historical data, is pervading all walks of
life, be it healthcare or the financial services industry.
The High-Level Expert Group on AI, tasked by the European
Commission to draft AI ethics guidelines, defined AI as
‘‘systems that display intelligent behaviour by
analysing their environment and taking actions – with some
degree of autonomy – to achieve specific
goals''.
In the finance world, AI has evolved substantially over the
recent decades and its utility ranges from the performance data
monitoring, establishing creditworthiness and credit scoring, as
well as in combatting cybercrime and money laundering. However, the
exponential use does not come without a fair amount of risks
attached, in particular in
