#SustainableFinance / Accelerating through change: Redefining finance for good

Financial institutions and their fintech partners have a responsibility to redefine finance for good and take action to empower better outcomes for society as a whole. Now is the time for action. Businesses – and especially financial institutions – need to take an active role in building a better, more equitable world.

Confronting bias in artificial intelligence… As technology opens new opportunities, financial institutions and their technology partners need to take care to promote equality and support marginalized groups within their own operations. Artificial intelligence (AI) has generated significant excitement and discussion as a source of opportunity for the industry. However, AI is only as ‘intelligent’ as the data it is built on. More specifically, AI systems learn to make decisions based on training data, which can include biased human decisions or reflect historical or social inequities…

Investing in a more equitable world… Diversity and inclusion efforts are top of mind as financial services firms look to hire and retain the best talent across their organization and within leadership. However, to truly achieve a diverse and inclusive workforce, will require some significant changes and investments in culture, talent development, and succession planning. Financial firms can lean into today’s remote workforce to advance good by seeking more diversity from a wide candidate pool and fostering a more inclusive culture, through recruitment and retention tactics.

… we must continue to invest in youth, our future leaders, and help prepare them for a future where both technology and financial services play key roles… Companies can push forward this agenda by partnering with organizations like Hour of Code and work with children directly on delivering computer science and coding skills…

https://finledger.com/2020/09/22/opinion-accelerating-through-change-redefining-finance-for-good/