Ethical Concerns in Artificial Intelligence (AI)

Abstract

Artificial intelligence and governance ideas are being implemented in business and society. These are two of the most explored issues in the current period. Banks and financial institutions nowadays collect vast volumes of client information, which is then processed by artificial intelligence; yet, the fate of such information remains unknown. This study seeks to identify ethical difficulties in the application of artificial intelligence and presents solutions based on governance concepts. It also looks into the function of artificial intelligence in financial institutions. This study is exploratory, with a focus on primary data analysis. Primary data is collected using a standardized questionnaire distributed to bank personnel. The study's findings indicate that there is a significant association between ethical difficulties in AI implementation and the function of corporate governance in financial institutions. The findings also indicate that the effective and intelligent use of governance concepts can alleviate ethical concerns about artificial intelligence implementation.

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