On May 9th, 2024, JUXT held its XT24 Fintech Conference in Milton Keynes.
The full-day conference featured talks and fireside chats with notable engineering leaders and tech innovators at the forefront of banking, fintech, and hedge funds.
XT24 kicked off with Francine Bennett and her talk about the unintended consequences of AI — in fintech, but also in a broader sense. As an interim director and board member at the Ada Lovelace Institute, Fran shared her deep expertise on how AI can introduce uncertainty into our systems, stressing the importance of questioning data sources and the crucial role of legislation in managing these risks.
Fran’s talk emphasized the growing opacity of AI systems and the potential for errors and biases to propagate through poorly-scrutinized data. She referenced the UK Post Office’s Horizon system scandal as a stark warning of the human costs when technology fails. She also highlighted the need for robust regulatory frameworks to keep pace with rapid AI advancements, ensuring that these systems are transparent and accountable.
In conclusion, Fran called for a collective effort to mitigate AI risks, involving governments, private entities, academia, and civil society. Her presentation at XT24 underscored the need for vigilance and collaboration in the development and deployment of AI technologies, making it clear that the future of fintech depends on our ability to navigate these complex challenges responsibly.
Access Fran’s slides here.
