Privacy Protection and Compliance of Artificial Intelligence in the Financial Industry

Surun Mu ()
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Surun Mu: Tianjin University of Finance and Economics

A chapter in Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025), 2025, pp 18-26 from Springer

Abstract: Abstract This document has explored the intricate relationship between artificial intelligence and privacy protection within the financial industry. It has underscored the significance of adhering to a multi-layered regulatory framework that includes global regulations like the GDPR, industry-specific standards such as PCI DSS, and emerging AI-specific compliance measures. The challenges of data collection and usage, algorithmic bias, and the security of AI systems have been highlighted, emphasizing the need for transparency, ethical data practices, and robust cybersecurity measures. The document concludes that while AI offers transformative potential for financial services, it also necessitates a vigilant approach to privacy protection and compliance. As the financial industry navigates this complex terrain, it must balance innovation with responsibility, ensuring that AI serves to empower rather than exploit, and to protect rather than compromise the privacy rights of individuals.

Keywords: Artificial Intelligence; Financial Industry; Privacy Protection (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-702-1_3

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