AI Governance and Open Finance Initiatives
The lecture will have two parts. The first will talk about AI governance and the concept of ‘AI in community’. Following will be a discussion of digital self-determination as a progressive approach to responsible data access and a paradigm of data management which moves away from rights and ownership, rejects contestation and looks for mutualised interests.
The second part of the lecture will take two case studies 1) fair lending, and 2) open banking. Both these areas of interest provide fertile discussion of the application of digital self-determination (DSD). For instance, the Hong Kong Monetary Authority recently announced plans to launch the Commercial Data Interchange (CDI), a new consent-based financial infrastructure which seeks to enable more secure and efficient data flows between banks and businesses to address pain points in SME financing. This is part of the four phase initiate on Open Banking. DSD has specific application in achieving these aspirations. Openness connects with DSD’s requirement that data-subjects should be informed about the nature, purpose and consequences of personal data access and usage. Fairness is reflected DSD’s commitment to autonomy in community – where data interests may be shared, responsibilised and respectfully managed in an atmosphere of mutual benefit.
About the Speakers
Professor of Law at Singapore Management University, and Director of its Centre for AI and Data Governance, SMU
Assistant Professor of Law at the Singapore Management University Yong Pung How School of Law, and Deputy Director of the SMU Centre for Commercial Law in Asia
Chair
Associate Professor, Faculty of Law