For example, Joy Buolamwini at MIT working with Timnit Gebru found that facial analysis technologies had higher error rates for some ethnic groups and particularly for women within those groups, potentially due to unrepresentative training data (Buolamwini et al 2018). Such risks have implications for how AI is used and the Central Bank is cognisant of these potential negative impacts on consumers.
We welcome the announcement from the new European Commission, highlighting that it will propose a focus on a regulatory framework for AI and look forward to working with our European peers on this important area. Investment firms For investment firms, the implementation of robo-advisory services represents a fast-growing trend within the investment advisory industry.