Clara Durodié, executive chair of the Cognitive Finance Group and author of Decoding AI in Financial Services: Business Implications for Boards and Professionals discusses the concerns around AI and the possibility of providing data statements, much like consumers receive bank statements, to see how their data is being collected, used, sold and even abused.

“Some concerns are rooted in the fear of the unknown, so when you don’t know what is ahead of you, you usually tend to be a little bit more reluctant, and fear mongering actually flourishes,” says Durodié. “Like anything else, any single tool, any single piece of technology can become a medium to empower or a weapon to destroy.”

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