Page 46 - FIGI - Big data, machine learning, consumer protection and privacy

Annex A (Monetary Authority of Singapore FEAT Principles)

Principles to Promote Fairness, Ethics, Accountability and Transparency (FEAT) in the Use of Artificial Intel-
ligence and Data Analytics in Singapore’s Financial Sector 239
Fairness
Justifiability

1 Individuals or groups of individuals are not systematically disadvantaged through AIDA-driven decisions
unless these decisions can be justified.
2 Use of personal attributes as input factors for AIDA-driven decisions is justified.

Accuracy and Bias

1 Data and models used for AIDA-driven decisions are regularly reviewed and validated for accuracy and rele-
vance, and to minimize unintentional bias.
2 AIDA-driven decisions are regularly reviewed so that models behave as designed and intended.

Ethics

1 Use of AIDA is aligned with the firm’s ethical standards, values and codes of conduct.
2 AIDA-driven decisions are held to at least the same ethical standards as human-driven decisions.

Accountability
Internal Accountability

1 Use of AIDA in AIDA-driven decision-making is approved by an appropriate internal authority.
2 Firms using AIDA are accountable for both internally developed and externally sourced AIDA models.
3 Firms using AIDA proactively raise management and Board awareness of their use of AIDA.

External Accountability

1 Data subjects are provided with channels to enquire about, submit appeals for and request reviews of
AIDA-driven decisions that affect them.
2 Verified and relevant supplementary data provided by data subjects are taken into account when performing
a review of AIDA-driven decisions.

Transparency

1 To increase public confidence, use of AIDA is proactively disclosed to data subjects as part of general com-
munication.
2 Data subjects are provided, upon request, clear explanations on what data is used to make AIDA-driven deci-
sions about the data subject and how the data affects the decision.
3 Data subjects are provided, upon request, clear explanations on the consequences that AIDA-driven deci-
sions may have on them.

44 Big data, machine learning, consumer protection and privacy