The project will be built on the existing research network investigating AI and data governance. The network involves Prof A Darbellay (AD) of the University of Geneva, Prof J Vananroye (JV) of the University of KU Leuven, and Prof J Lee (JL) of the University of Exeter. The first workshop was convened on 8 January 2020 at the University of Geneva. https://www.unige.ch/droit/numerique/fintech/
Applicants will work with experts in and from exchanges, banks (ie retail, investment), payment services, and corporate actions data services which have been using AI to process data, produce analysis, make decisions, and interact with other machines equipped with AI. AI and machine learning can have impacts on financial consumers and investors’ behaviour, individual autonomy, and democratic values. The machines store such personal data and make decisions about the user (data subject) with or without their knowledge (e.g. profiling). The problem is heightened when data are transferred to other machines (from robo-advisers to other e-commerce algorithms) which then make decisions for very different purposes with or without the user’s knowledge. For instance, a user may want to exercise control over the data stored and shared (i.e. the right to be forgotten) or claim compensation for harm done (i.e. being prevented from accessing a service due to wrongful use of AI). When AI’s legal status is unclear (a legal person, a product, or a service), users may face difficulties in identifying those responsible and obtaining redress from them. The research will address a current knowledge gap in the legal literature on artificial intelligence and data governance in the financial markets.
Dr Joseph Lee, University of Exeter, School of Law
Prof. Aline Darbellay, University of Geneva, Faculty of Law