As artificial intelligence (AI) takes the world by storm, its widespread use has brought about questions on ethics, transparency, and existential risk, especially in the financial technology landscape.
To create safe and secure AI products, fintech institutions are urged to address the urgent demand to implement ethical considerations and responsible AI systems.
This means requiring thoughtful, human-centered design to enhance data privacy and security, transparency, accountability, human oversight, and fairness at the forefront of AI advancement.
With responsible finance at its core, GCash underscores the importance of upholding these values as it revolutionizes the financial sector through the launch of its AI Ethics roadshow as part of its GCash Good Data for Good initiative.
In line with its mission to champion inclusive finance, this initiative is aimed at effectively utilizing AI within its organization and across the fintech space to create a financial future that fosters an ethical climate along with inclusivity and security, ultimately fostering a collaborative ripple of positive change for millions of Filipinos.
“AI is a valuable tool for financial innovation, but it must be developed and implemented with fairness, transparency, and robust data security measures in place. This initiative is one of GCash’s conscious efforts to align AI with a moral compass, human values, fairness, transparency, and accountability, which we treat as an urgent matter that impacts human lives, society, and the environment,” says GCash chief data officer Sara Venturina.
To further embrace the AI revolution, lead with vision and integrity, and confidently navigate the future of fintech, the roadshow consisted of a series of talks and online training sessions for GCash employees and its partners who play significant roles in achieving its financial inclusion pursuit.
Moreover, this program ensures workforce development, nurturing a culture of ethical excellence, adaptability, resilience, and innovation.
As part of its commitment to promoting ethical AI practices, GCash is a proud member of the AI Verify Foundation, a global community that convenes AI owners, solution providers, users, and policymakers to build trustworthy AI systems.
This membership underscores GCash’s dedication to Responsible AI, allowing the company to benchmark its efforts against global standards and further solidify its stance on ethical AI integration.
In addition, the GCash Data for Good also reflects the organization’s commitment to promoting an ethical data-driven climate within the fintech community.
This includes bolstering its credibility in data management and advancing the integration of AI into GCash’s AI-powered in-app features including its newest innovations such as GScore AI calculates users’ creditworthiness and loan eligibility based on their daily app usage, removing the need for forms or additional documents, Hyper-personalized ads, and GCoach AI which is an in-app guide that uses generative AI to educate users on spending, saving, and growing their money.
Likewise, through this initiative, GCash enhances not only its transparent AI decision-making process, coupled with human oversight to ensure they are steeped in ethical considerations that prioritize the welfare of its users but also its risk management by proactively mitigating potential future risks stemming from data mishandling or the deployment of biased AI models.
“At GCash, we see the rise of AI as an opportunity to explore this next great frontier where the boundaries between business growth and higher purpose are merging into one, where doing good really is good for business,” says GCash head for data enablement Marah Dimasupil.
As the largest digital ecosystem in the country, GCash continues to stand at the forefront of responsible, fair, and ethical AI usage to help build the financial progress of Filipinos through secure, accessible, and innovative financial solutions.
For more information, please visit www.gcash.com.
