A new collaboration between the Chartered Institute for Securities & Investment (CISI) and FINSIA will help the Australian and New Zealand financial services profession enhance its understanding of ethical issues when deploying artificial intelligence (AI).
The programme, which includes access to CISI’s suite of continuing professional development (CPD) e-learning and qualifications, offers FINSIA’s 23,000 members, non-members and graduates the opportunity to study for the CISI Certificate in Ethical AI.
Educational charity and professional body the CISI has a global membership of over 52,000 based in over 100 countries. The Institute offers qualifications and lifelong e-learning opportunities for those working or aspiring to work in the capital markets, financial planning and wealth management professions.
The CISI launched its Certificate in Ethical Artificial Intelligence in November 2023 as part of its campaign to champion ethics and transparency in the use of AI. The Certificate was introduced as part of the City of London Lord Mayor Michael Mainelli’s ethical AI initiative with key input from the steering group for this project.
Since launch, the CISI’s collaborations with professional and industry bodies mean that almost 300,000 global financial services practitioners have been offered the opportunity to boost their skills and learning in respect of ethics and transparency in the use of AI.
Machine Learning/AI was listed as a priority future skill for the UK financial services sector by the Financial Services Skills Commission (FSSC) in a recent report, with the CISI noting that every one of the FSSC 13 future skills were being addressed by CISI’s digital CPD modules.
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Yasser El-Ansary, FINSIA Chief Executive and Managing Director, left, said: “We are thrilled to work with the Chartered Institute for Securities & Investment (CISI) marking a significant step forward in enhancing AI skills within the Australasian financial services sector.
“AI is reshaping the financial services landscape, presenting both tremendous opportunities and complex ethical challenges. As AI becomes increasingly integral to decision-making and operations, understanding its ethical implications is not just an option but a necessity for responsible practice.
“The programme will provide valuable insights and tools for navigating the ethical complexities of AI and reinforces our commitment to advancing ethical standards and fostering a deeper understanding of AI in our profession.”
Tracy Vegro OBE CISI CEO said: “We are delighted to be working with our partners FINSIA to support the Australasian financial services community in its lifelong learning and development journey. As AI becomes more advanced and widespread, there are concerns emerging about issues such as bias, transparency, accountability, safety, and employment trends. This course will help FINSIA financial services practitioners understand the issues and opportunities posed by AI in financial services."