On 13 September 2021, our centre director, Mark Findlay, and Research Associate, Nydia Remolina, gave the lecture “AI Governance and Open Finance Initiatives” organised by the Asian Institute of International Financial Law of the University of Hong Kong.
The lecture introduced CAIDG’s work on AI governance and the concept of ‘AI in community’. Followed by a discussion of digital self determination (DSD) as a progressive approach to responsible data access and data subject empowerment in data-driven decision making contexts which moves away from rights and ownership, rejects contestation and looks for mutualised interests.
The lecture focused on translating the DSD discussion to two major developments in financial services: fair lending and open finance. 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.
Last updated on 09 Mar 2022 .