Implementation of Fairness Principles in Financial Institutions' Use of Artificial Intelligence / Machine Learning
MAS conducted a thematic review on selected financial institutions’ (FIs) implementation of Fairness Principles in their use of Artificial Intelligence / Machine Learning (AI/ML). The paper highlights observations from the review of the FIs’ policies and governance frameworks to meet the Fairness objectives under the FEAT Principles, and their implementation effectiveness in actual AI/ML use cases. It sets out MAS’ recommendations, good practices and illustrative examples observed from the review.