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Privacy Protection and Compliance of Artificial Intelligence in the Financial Industry

In: Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025)

Author

Listed:
  • Surun Mu

    (Tianjin University of Finance and Economics)

Abstract

This document has explored the intricate relationship between artificial intelligence and privacy protection within the financial industry. It has underscored the significance of adhering to a multi-layered regulatory framework that includes global regulations like the GDPR, industry-specific standards such as PCI DSS, and emerging AI-specific compliance measures. The challenges of data collection and usage, algorithmic bias, and the security of AI systems have been highlighted, emphasizing the need for transparency, ethical data practices, and robust cybersecurity measures. The document concludes that while AI offers transformative potential for financial services, it also necessitates a vigilant approach to privacy protection and compliance. As the financial industry navigates this complex terrain, it must balance innovation with responsibility, ensuring that AI serves to empower rather than exploit, and to protect rather than compromise the privacy rights of individuals.

Suggested Citation

  • Surun Mu, 2025. "Privacy Protection and Compliance of Artificial Intelligence in the Financial Industry," Advances in Economics, Business and Management Research, in: Maizaitulaidawati Md Husin & Tomoki Fujii & Xiaodong Lai & Azlina Binti Md Yassin (ed.), Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025), pages 18-26, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-702-1_3
    DOI: 10.2991/978-94-6463-702-1_3
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