Article 18. Algorithm Integrity: Training and Awareness

Spoken by a human version of this article.

Ongoing education helps everyone understand their role in responsibly developing and using algorithmic systems.

Regulators and standard-setting bodies emphasise the need for AI literacy across all organisational levels.

Links

• ForHumanity - join the growing community here. 
• ForHumanity - free courses here.
• IAIS: The International Association of Insurance Supervisors is developing a guidance paper on the supervision of AI.
• DNB: De Nederlandsche Bank - 6 general principles for the use of AI in the financial sector.
• ASIC: The Australian Securities & Investments Commission - report.
• NIST: The National Institute of Standards and Technology - AI Risk Management Framework.
• EU AI Act: The European Union Artificial Intelligence Act - specific expectation about “AI literacy”.

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About this podcast

A podcast for Financial Services leaders, where we discuss fairness and accuracy in the use of data, algorithms, and AI.

Hosted by Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).

Episode Transcript

(00:14):
This article was publishedin December 2024.
It's titled Algorithm Integrity,Training and Awareness.
there's, literacy coming uppretty much everywhere and
this is really just a shortarticle outlining Things that
I've seen around education andtraining and the need for that.
So here we go.
Many algorithm relatedlaws and guidelines refer

(00:36):
to training to improveintegrity and responsible use.
There is a good reason for this.
If everyone involved knowswhat to look out for.
We have a better chanceof achieving integrity in
our algorithmic systems.
Boards providing oversight,senior management providing
direction, second line riskand compliance providing
guidance or review, managerstaking care of operations,

(00:59):
data scientists developing thesystems, and all staff using AI.
If everyone becomesaware and gets involved,
the job becomes easier.
Without awareness,algorithm integrity becomes
difficult to achieve.
If the data scientist isnot aware, they may throw in
data that results in bias.
If senior managers arenot aware, they may not

(01:21):
commission assessments.
In short, we need ongoingtraining and awareness
across our organizations.
ForHumanity recognizes thisand has a specific project
focusing on AI literacy,establishing learning
objectives and developing aIliteracy teaching modules.
is a non profit public charitydedicated to mitigating risk

(01:42):
from AI, algorithmic andautonomous systems, To get
involved with the project, youcan join the growing community
and there's a link in thearticle and I'll put in the show
notes to where you can join.
And for more in depth learningon AI risk topics, ForHumanity
also provides free courses.
And there's a linkthere as well.
Here are a few examples ofguides and laws that emphasize

(02:05):
the need for AI relatedtraining and education to ensure
responsible development and use.
And there's five of them.
First is the InternationalAssociation of Insurance
Supervisors, who aredeveloping a guidance paper
on the supervision of AI,in insurance of course.

(02:25):
The November 2024 draftrecommends regular competency
based training for boardsso that they can effectively
scrutinize AI system deployment.
It also recommends effectivetraining cascading throughout
the insurer staff are awareof and understand their role

(02:45):
in addressing AI risks, DNB.
The near launcher bunk includedskills in 2019 as one of the six
general principles for the useof AI in the financial sector.
Thirdly, asic, the AustralianSecurities and Investments
Commission produced a reportin October, 2024 following

(03:08):
a review of how 23 financialservices organizations were
using or planning to use ai.
The report includedthis and I quote.
Directors and officers shouldbe aware of the use of AI
within their companies, theextent to which they rely on
AI generated information theirduties, and the reasonably

(03:30):
foreseeable associated risks.
NIST, the National Instituteof Standards and Technology,
produced the AI RiskManagement Framework in 2023.
It includes a specificsubcategory that outlines
the need for AI riskmanagement training for
personnel and partners.

(03:52):
And then the EU AI Act, theEuropean Union Artificial
Intelligence Act, includesa specific expectation
about AI literacy.
We will explore this topicfurther in future articles.
Thanks for listening.