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Thomas carette presentation at Meetup Big Data and Ethics at DigitYser Brussels 15 June 2017

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presentation given at the first meetup on Big Data and Ethics given at DigitYser Brussels. Find more about this event on our blog at www.intotheminds.com/blog/en

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Thomas carette presentation at Meetup Big Data and Ethics at DigitYser Brussels 15 June 2017

  1. 1. Me @TcaretteB thomascarette tcarette wilmerton 4 + 4 + 3 years in Physics 3 years bootstrapping Data Science practices in the financial sector Lots of stuff on the side
  2. 2. Data-ethics in the retail financial sector : status update Thomas Carette Big Data and Ethics - DataScience Meetup June 2017 Disclaimer : this presentation reflects my own views - those have been developed in large part from independent studies and do not reflect internal organisation of my ex or current employer
  3. 3. Setting the Scene The long history of Data Science In Banks and Insurances L E G A C Y Society - Trades Data - Writing Loans - Banking Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  4. 4. Setting the Scene The long history of Data Science In Banks and Insurances L E G A C Y Stats - Actuarial sciences Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  5. 5. Setting the Scene The long history of Data Science In Banks and Insurances L E G A C Y Data Driven Not Software or Tech Driven Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  6. 6. Setting the Scene The long history of Data Science In Banks and Insurances V I S I O N R E T A I L B U S I N E S S financial Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  7. 7. Setting the Scene a sector under outside pressure (consolidation) Behind in tech and user experience protecting their market share Behind in public trust protecting their brand image Post-2008 economy Finance sector regulation protecting their profitability Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  8. 8. What about Ethical behavior? A pragmatic view on where inertia and human nature could lead us
  9. 9. People Obey (especially scientists) Few people bite the hand that feeds them Objectives will be met Sticking to ethical models/pipelines has to be a deliberate choice But Counting on responsible Data Scientists is insufficient Challenge #1 doers Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  10. 10. Amorality (vision makes it worse) Sociopathic decisions are frequent (1) “It’s legal” (2) “There is little operational risk” Challenge #2 thinkers In retail, the public keeps the banks and insurers in check But It is not the same as facing one's responsibilities Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  11. 11. Data Haven (loopholes will exist) Nor the letter nor the spirit of regulations are ever respected 100% Data Regulations are the new Tax Laws Challenge #3 enablers Regulations must be established But Even if they are perfect locally, International Collaboration will be key Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  12. 12. Force of diverging inequality Fast track to ecosystem consolidation and monopolies Challenge #4 mathematics Regulations could work as intended But It is still a nonlinear system Capital Investment Data User Experience Rich Data Rich Data Rich (but data can be copied - GDPR data portability helps) Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  13. 13. Data Ethics in Retail Darwinism in the Way? (selection of the fittest company aligned with ethics?) Learn from fiscal laws failures (regulations are necessary - but it’s a complex challenge) Divergence forces at work (what when the masses will become redundant?) Finance Twists Cornerstone of Liberal Society (tool to build a (conflict-) free society) Fundamentally Data Driven (particularly sensitive case for data-ethics) Sector under pressure (threat of consolidation) Thomas Carette, Big Data & Ethics, DSC Meetup 2017
  14. 14. What about optimism? Well … what about it ? Any suggestion?

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