Chee Kin Lam, Managing Director & Head of Legal & Compliance of DBS Bank, and his colleagues Jeffery Lee, Managing Director, Legal and Compliance, and Sameer Gupta, Managing Director, Chief Analytics Officer at DBS Bank, join us to discuss DBS PURE (Purpose, Unsurprising, Respectful, and Explainable) framework.
PURE both operationalizes and extends beyond Singapore’s FEAT (Fairness, Ethics, Accountability and Transparency) principles for the use of artificial intelligence and data analytics in finance. Chee Kin highlights DBS’s approach to responsible data use and the main aspects of DBS’s PURE framework - to understand the purpose of data use, avoid unsurprising effects on customers, respect social norms of the societies in which they operate, and ensure that outcomes are explainable.
Jeffery and Sameer describe PURE’s review process for new use cases, including how outcomes are determined to be PURE within their framework, and the actions taken for non-PURE use cases. The importance on board involvement and a cross-sectoral Responsible Data Use Committee are also highlighted in the discussion.
Chee Kin, Jeffery and Sameer also discuss the role of regulation for implementing ethical AI, and the role of the human in AI systems when these make consequential decisions about people.