Senin, November 27, 2023

AI Code of Ethics Guidelines for Financial Technology Industry Launched

On 24 November, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), in partnership with the Indonesian Fintech Association (AFTECH), the Indonesian Sharia Fintech Association (AFSI), the Indonesian Joint Funding Fintech Association (AFPI) and the Indonesian Crowdfunding Services Association (ALUDI), officially launched its code-of-ethics guidelines ("Guidelines") for the responsible and reliable use of artificial intelligence ("AI") within the financial technology ("Fintech") sector at the Fifth Indonesia Fintech Summit & Expo 2023 ("IFSE 2023").
During the event, Hasan Fawzi, Chief Executive of Innovative Financial Sector Technology Supervision, Digital Financial Assets and Crypto Assets at the OJK, expressed his hope that the Guidelines will be able to serve as a reference for use by associations in order to develop applicable codes of conduct. This initiative is aiming to optimize said utilization, facilitate positive innovation and help to mitigate any potential risks that are specifically associated with the use of AI within the fintech industry.
Also speaking during the event was Mahendra Siregar, Chairman of the OJK’s board of commissioners, who explained that technology has a crucial role to play as a key driver of economic, social and environmental development. As a result, the application of Good Corporate Governance (GCG) and Governance Risk Compliance (GRC) will be vital in ensuring that digital financial service providers operate ethically, transparently and in compliance with the applicable regulations.
During this year’s event, the IFSE 2023 adopted the theme: “Accelerating Growth: Promoting Sustainable Integration and Collaboration for a Stronger Digital Economy”. The event also marked the introduction of the Insurtech White Paper, which offers insights into the implementation of the insurance technology business model within Indonesia, along with its various associated challenges and opportunities. The Insurtech White Paper also features number of policy suggestions. (OJK)

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On 24 November, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), in partnership with the Indonesian Fintech Association (AFTECH), the Indonesian Sharia Fintech Association (AFSI), the Indonesian Joint Funding Fintech Association (AFPI) and the Indonesian Crowdfunding Services Association (ALUDI), officially launched its code-of-ethics guidelines ("Guidelines") for the responsible and reliable use of artificial intelligence ("AI") within the financial technology ("Fintech") sector at the Fifth Indonesia Fintech Summit & Expo 2023 ("IFSE 2023").
During the event, Hasan Fawzi, Chief Executive of Innovative Financial Sector Technology Supervision, Digital Financial Assets and Crypto Assets at the OJK, expressed his hope that the Guidelines will be able to serve as a reference for use by associations in order to develop applicable codes of conduct. This initiative is aiming to optimize said utilization, facilitate positive innovation and help to mitigate any potential risks that are specifically associated with the use of AI within the fintech industry.
Also speaking during the event was Mahendra Siregar, Chairman of the OJK’s board of commissioners, who explained that technology has a crucial role to play as a key driver of economic, social and environmental development. As a result, the application of Good Corporate Governance (GCG) and Governance Risk Compliance (GRC) will be vital in ensuring that digital financial service providers operate ethically, transparently and in compliance with the applicable regulations.
During this year’s event, the IFSE 2023 adopted the theme: “Accelerating Growth: Promoting Sustainable Integration and Collaboration for a Stronger Digital Economy”. The event also marked the introduction of the Insurtech White Paper, which offers insights into the implementation of the insurance technology business model within Indonesia, along with its various associated challenges and opportunities. The Insurtech White Paper also features number of policy suggestions. (OJK)

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