Extending trust beyond financials to customer data: Scotiabank’s Approach to Ethical Data & AI Qorus Banking Innovation Awards 2022 - Winner

The rise of Artificial Intelligence (AI) and Machine Learning (ML) has led to calls for companies to manage and use data responsibly and ethically. Scotiabank is taking a leadership position in this area, as one of the first organizations in the financial industry to tackle the challenge of moving beyond declaring principles to operationalizing data ethics – creating tools and processes that address ethical concerns throughout the data and AI lifecycles. The Bank has been ahead of the industry in adopting a public data ethics commitment statement and creating and implementing tools such as the Ethics Assistant (EA) for both Trusted AI and for Trusted Data Use.