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Ethical and Regulatory Challenges of AI in Finance and Auditing Exploring the Intersection of Technology and Governance

Aman Deep Singh

Mndeep53@gmail.com,

Abstract

This white paper delves into the ethical and regulatory challenges presented by the use of Artificial Intelligence (AI) in finance and auditing. As AI revolutionizes these industries, it brings about significant advancements in efficiency and insights. However, this progress is accompanied by concerns regarding data privacy, algorithmic bias, and the need for transparency and accountability. By examining these issues, the paper aims to highlight the importance of ethical considerations in the deployment of AI systems and the regulatory frameworks necessary to address these challenges and ensure the responsible use of technology in financial services.

Keywords

·                  Regulatory

·                  Data Privacy

·                  AI

·                  Governance

·                  Algorithmic Bias

·                  GDPR