The right AI governance strategies can help Finance, IT, and AI Councils make safe, ethical decisions when adopting generative AI.
Generative AI has great potential and numerous capabilities. It can hold conversations, analyze business documents, and write correspondence, all using information entered into plain-language prompts from the user. However, the inner workings of AI remain poorly understood. Companies have formed AI Councils to develop mitigation strategies for any unintended consequences resulting from emergent technologies as they are integrated into financial operations.
This whitepaper explores the ethical and regulatory compliance aspects of deploying AI models within financial operations, such as accounts payable processing and employee expense report auditing. It clarifies the technical specifications that AppZen follows in creating a trustworthy AI service. It addresses ethical considerations, such as bias, explainability, and accuracy, as well as regulatory compliance from the perspective of safety, privacy, and IP protection.