Program Description

This is Toronto Centre's panel at Financial Inclusion Week 2023, powered by the Center for Financial Inclusion.

Many uses of AI and ML have emerged in the financial sector including improved customer experience, new and improved financial products and services, lower costs for financial institutions and a more efficient financial services sector, improved compliance and risk management, more effective identification of fraud and money laundering and greater financial inclusion.

The use of AI and ML could also bring significant benefits to emerging market and developing economies, enhancing access to credit and insurance; identifying customers and documents to support account opening; improving customer service; supporting compliance with anti-money laundering requirements; and detecting and preventing fraud and cyber-security threats.

The panel will explore the data protection compliance issues and ethical considerations that must be taken into account in relation to AI among others.

Panelists:

Sophie Sirtaine, Chief Executive Officer, Consultative Group to Assist the Poor (CGAP)

Mariela Zaldivar, Deputy Superintendent, Market Conduct and Financial Inclusion, Peruvian Superintendency of Banking, Insurance and Private Pension Funds (SBS)

Miguel Díaz, Head, Toronto Innovation Hub Centre, Bank of International Settlements (BIS)

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets, IMF; Board Member, Toronto Centre

Opening Remarks:

Babak Abbaszadeh, President and CEO, Toronto Centre

Read their biographies here.