07 April 2021

Collaborative project on the responsible use of artificial intelligence in the financial sector between the Autorité des marchés financiers, Algora Lab (Université de Montréal) and CIRANO

Consumers of financial products and services who wish to express their views on the subject are invited to participate in one of three discussion workshops to be held on April 20, 22 and 27. Quebec consumers can register and learn more about the content of the workshops by visiting the event webpage.


This collaborative project aims to:

  • Develop a reflection on the challenges of responsible AI deployment by the Authority's various constituencies and the Authority itself.
    • From the point of view of consumers of financial products and services;
    • From the point of view of experts and market players;
    • To contribute to the AMF's reflection on the responsible use of AI and data in the financial industry;
    • Inform the general public and financial sector professionals of the ethical and societal risks associated with AI;
  • Recommend standards to guide this deployment in the industry, and then clarify the ethical issues associated with the use of AI and AI data in the financial industry.
    • Better regulate the use of these innovative but sometimes ethically risky technologies;
    • Formulate ways to mitigate the risks associated with these techniques;
    • Better protect citizens.


The ethical framework of the project will be the Montreal Declaration for a Responsible Development of Artificial Intelligence, which is the most comprehensive multi-stakeholder ethical framework to date. The objective is to use this framework to guide the sectoral analysis and to formulate practical recommendations.


Nathalie de Marcellis-Warin, President and Chief Executive Officer of CIRANO, Full Professor at Polytechnique Montréal and co-responsible for the International Observatory on the Societal Impacts of Artificial Intelligence and Digital Technologies (OBVIA) "Monitoring and Investigations" section, and Robert Normand, Projects Director at CIRANO are involved in this project on the use of artificial intelligence in Finance with Marc-Antoine Dilhac, Director of Algora Lab and professor at the University of Montreal, and several research professionals. A great collaboration with the AMF, a CIRANO partner!


"With this project, the Autorité des marchés financiers is once again demonstrating its commitment to understanding the impact of digital transformation on consumers of financial products and services", said Louis Morisset, President and CEO of the Autorité des marchés financiers. "By analyzing the information that will be provided and the expectations that will be formulated, we will be able to better ensure that technology, and artificial intelligence in particular, is used responsibly, for the benefit of consumers", he added.



All news