Financial Services Organization (FSO) Consulting Partner and Government and Public Sector Leader Christian G. Lauron (CGL), Senior Director Anchor Asistin, Director Aeron Ramos, and Senior Associate Melle Tengco were speakers at the 4th FSO Banking and Capital Markets (BCM) webinar titled Trusted Intelligence: Model Management of the Future, Bias and Fairness on 7 May. Over 230 chief risk officers, risk management specialists, model development and validation specialists and auditors from the banking, insurance, consumer and retail, and real estate industries attended the webinar. FSO Partner Veronica A. Balisi (VAB) and Tax Partner Margarita D. Mallari-Acaban (MDM) also attended the webinar.Anchor, Aeron, and Melle with VAB and MDM and other participants at the webinar
The speakers discussed developments, advantages, and challenges in the adoption of Artificial Intelligence (AI)-based models. They shared strategies and approaches that financial institutions can consider in the incorporation and enhancement of model risk management, trust in AI, and the consideration of bias and fairness in business operations. They also highlighted the impact of evolving regulatory expectations and the progression of trust and reliance on technology and AI. They then presented a demo on bias and fairness in AI and machine learning.
The session was followed by an open forum where the speakers addressed the participants’ questions. FSO Senior Director Glaiza Escaño hosted the webinar and Senior Director Mary Catherine Biliran, Senior Associate Maureen Bautista, and Associates David Rodriguez, Abegail Verdadero, and Ronnie Añasco were part of the webinar’s organizing team.