Background

On September 25, the National New Generation Artificial Intelligence Governance Professional Committee issued the "New Generation Artificial Intelligence Ethics Code" ("Ethics Code"). It aims to integrate ethics into the entire life cycle of artificial intelligence, and provides ethical guidelines for related institutions engaged in artificial intelligence-related activities.

Interpretation

The full text of the "Ethics Code" consists of 6 chapters and 25 articles, including general principles, ethical codes for specific activities, and organization and implementation. The basic ethical requirements were put forward in 6 aspects: enhancing human well-being, promoting fairness and justice, protecting privacy and security, ensuring controllability and credibility, strengthening accountability, and improving ethical quality. At the same time, 18 specific ethical requirements for specific activities such as artificial intelligence management, research and development, supply, and use are also released.

The R&D code and supply code in the “Ethics Codes for Specific Activities”  correspond to the specific requirements in the "JR/T 0221-2021 Artificial Intelligence Algorithm Financial Application Evaluation Standards", which is issued and implemented by the People's Bank of China on March 26, 2021. Both codes and specifications set clear requirements for the research and development activities of algorithms and products, services, production operations, and other supply activities.

Trend of Development

A recent study by Boston University surveyed 225 startups worldwide and found that 58% of them have formulated policies on the ethics of artificial intelligence. It is particularly noteworthy that the study shows that two types of startups have paid more attention to the implementation of artificial intelligence ethics in business management and production. One has cooperated with large high-tech companies such as Amazon, Google, and Microsoft in the field of data, and the other is companies that have been negatively affected by the GDPR. This shows that many companies only realize the importance of artificial intelligence ethics after they have been subject to strict supervision or punishment from regulators. The release of the "Ethics Code" means that artificial intelligence ethics has begun to become the focus of domestic attention. To engage in artificial intelligence management, research and development, supply, use and other related activities, the ethical management of artificial intelligence should be gradually strengthened. The domestic management of artificial intelligence ethics is gradually becoming more stringent and legalized like the EU. If organizations can make compliance certification in advance, they will reduce the disadvantages of industry competition in the future.

BCTC Services

National FinTech Evaluation Center (NFEC, also well-known as Bank Card Test Center or BCTC) conducted a large number of artificial intelligence algorithm applications and security research in the financial field in the early stage, and launched technical evaluation and consulting services for the industry to comprehensively evaluate the security and interpretability of the financial application of artificial intelligence algorithms. BCTC can also provide customized artificial intelligence algorithm financial application security services based on the institution’s characteristics, to improve security compliance, reduce risks, and jointly promote the standardized application of artificial intelligence algorithms in the financial field.