TOPIC TO WRITE ABOUT: A key theme for this course revolves around creating incentives that will drive future behavior in positive ways. As we have discussed many times in the course, we are about to see significant changes in how people work, or even what we consider “work.” Advancements in AI, machine learning, block chain, facial recognition, automation (in factories, automobiles, and agriculture), financial transactions and many other areas have created significant opportunities, but have also highlighted significant challenges. For this assignment, I would like you to consider developments in Fintech and analyze between 2 and 3 of the opportunities and challenges that will need to be addressed from an ethics perspective.
Questions you might want to consider: How can we ensure Fintech developments provide adequate financial inclusion for all? What are the privacy concerns related to Fintech advancements? Will Fintech developments lead to a democratized financial landscape, or a more consolidated one? Which of those is better or worse and why? How do we ensure human bias doesn’t get coded into these tech advancements? Should we include cultural elements in our Fintech programming? How do we ensure that a cashless society doesn’t pave the way for fraud, money laundering, and even worse criminal behaviors? Please feel free to explore any elements that you find interesting or relevant, and understand that the concept of Fintech is considered quite broadly, including facial recognition software, AI, block chain, etc. Be comprehensive in your analysis and think about the topic broadly, making sure to provide specific comparisons between existing technologies, laws, incentives, or problems and the newer advancements in technology.