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

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

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

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

Setting the Scene

The long history of

Data Science


L E G A C Y

Stats - Actuarial sciences


Setting the Scene

The long history of

Data Science


L E G A C YData Driven

NotSoftware or TechDriven


Setting the Scene

The long history of

Data Science


V I S I O N

R E T A I L

B U S I N E S S

financial


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


What about Ethical behavior?

A pragmatic view on where inertia and human nature could lead us

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 #1doers


Amorality(vision makes it worse)

Sociopathic decisions are frequent

(1) “It’s legal”

(2) “There is little operational risk”

Challenge #2thinkers In retail, the public keeps the banks

and insurers in check

But

It is not the same as facing one's responsibilities


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 #3enablers

Regulations must be established

But

Even if they are perfect locally, International Collaboration will be key


Force of diverging inequality

Fast track to ecosystem consolidation and monopolies

Challenge #4mathematics

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)


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)


What about optimism?

Well … what about it ? Any suggestion?

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

Data & Analytics

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