NFU Consultation Reply on Artificial Intelligence in the Financial Sector

Summary

There is a broad technology-driven trend towards greater use of AI in financial services and beyond. The Commission highlighted the need for a targeted consultation on the use of AI in financial services. The goal is to identify the main use cases and benefits, barriers, and risks related to the development of AI applications in the financial sector.

Nordic Financial Unions (NFU) replied to the consultation questionnaire on AI in Finance with emphasis on the experience of Nordic industry employees. Finance trade unions in the Nordic countries report that the success and acceptance of AI systems in their workplaces regardless whether amplied internally or customer-facing depends on the early involvment of employees and trade unions in AI development and deployment.