The integration of Artificial Intelligence (AI) into Environmental, Social, and Governance (ESG) initiatives within the financial sector is crucial for sustainable and equitable practices. The paper surveys the industrial landscape to highlight the necessity and impact of AI in bolstering ESG frameworks. It categorizes AI applications across three main pillars of ESG, emphasizing analytical capabilities, risk assessment, customer engagement, reporting accuracy, and more. The critical considerations surrounding data use and model development underscore the importance of data quality, privacy, and model robustness. Responsible and sustainable AI deployment is essential to address ethical dimensions in ESG-related banking processes. While AI offers transformative potential for ESG in banking, it also poses significant challenges that necessitate careful consideration.
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