The Australian Human Rights Commission (Commission) is pleased to have partnered with the National Australia Bank (NAB) to develop and produce this human rights impact assessment tool for artificial intelligence-informed decision-making systems in banking (HRIA Tool).
Artificial intelligence (AI) can improve efficiency and increase customer satisfaction when engaging with banking services.
However, given the important role banks play in storing the wealth of Australians, it is important that when integrating AI into decision-making, it is done ethically and with human rights at the forefront.
The aim of the HRIA Tool is to assist banks in considering and measuring the risk to human rights posed by AI systems, implement strategies to address those risks and support the availability of remedies for any human rights violations.
If AI is not integrated responsibly into decision-making systems, there may be serious and adverse consequences for everyone – including customers and the banking industry itself.
The Commission developed this HRIA Tool (in collaboration with NAB) following the Commission’s recommendations in its Final Report: Human Rights and Technology that private sector bodies be encouraged to undertake HRIAs before using AI systems and that tools should be developed to assist them in doing so.
This HRIA Tool also builds upon the Commission’s work to develop practical guidance for the ethical use of AI systems for various sectors and businesses.
Another example of our work is the Guidance Resource on Artificial Intelligence (AI) and Discrimination in Insurance Pricing and Underwriting (AI in Insurance Guidance).