Artificial Intelligence and privacy in the financial sector - Commissioner Dervishi: Protect citizens' personal data
The rapid development of technology and the use of artificial intelligence to facilitate work processes and services in the financial sector must go hand in hand with taking stronger measures to protect personal data.
The Office of the Commissioner for the Right to Information and Personal Data Protection held the activity on the topic "Personal Data Protection and Artificial Intelligence in the Financial Sector", which aimed to strengthen institutional capacities and dialogue between the supervisory authority and the financial sector on the use of Artificial Intelligence, in accordance with the requirements of the law and European standards.
"Technological development must go hand in hand with respect for fundamental rights. Personal data protection and innovation are not mutually exclusive concepts, but must be built on the same foundation: the trust of individuals ," said Besnik Dervishi, Commissioner for Personal Data Protection.
While Prof. Alessandro Mantelero, Professor at the University of Turin and international expert in the field of personal data protection and Artificial Intelligence, addressed the use of Artificial Intelligence in the financial sector, the benefits and risks associated with the processing of personal data, as well as the obligations arising from legislation to minimize these risks.
"Albania has made recent advances in the field of technological systems development and personal data protection, the country has marked significant developments in alignment with European standards. The use of Artificial Intelligence systems requires a comprehensive assessment of risks, based on criteria such as the degree of impact, its scope, the probability of occurrence and the possibility of restoring the situation to its previous state. Organizations should go beyond the personal data protection impact assessment (DPIA), also considering the impact assessment on the fundamental rights and freedoms of individuals (FRIA), as an essential element for ensuring the responsible and trustworthy use of Artificial Intelligence."
The activity brought together representatives of banking and non-banking institutions, the insurance sector, data protection officers (DPOs), technology experts, and information security professionals.
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