L8: AI and Sustainability Flashcards
What is sustainability
The ability of something to be sustained. Regarded as a good thing, but also we dont want to sustain everything, like war?
What is development
gradual process of improving living standards. allows needs of present generation to be met, but may damage ability of future generations to meet their own needs.
what is sustainable development?
development that does not compromise the ability of generations to meet their own needs. Requires use of renewable resources and replacement of non-renewable resources with equivalents.
Two areas of sustainability in banking
Reforming own operations, impement sustainability conditions for financing/investment.
What are concerns with offsetting carbon emissions
Could do more good by giving money to other causes. Broome says this is true, but duty to avoid harming others prioritises duty to do good.
Potential issues with cost of offsetting
If cheap, may discourage people to reduce emissions. Offsetting is an inefficient constribution to helping suffering.
how to implement sustainability conditions for financing/investment
can refuse to lend/invest in unsustainable companies.Complicity argument: If they facilitate unsustainable practices, they are an accomplice.
Examples of technological advances in banking
Automated decision making, automated customer support, automated risk assessment, algorithmic targeted marketing.
Risks of technological advances in banking
Vulnerability to error, distance between customers and bankers, knowledge detereoration, increased siloing, accountability, professionalism and trust, transparency, bias, privacy, multiplication.
Risk of vulnerability to error with tech advances
reduces human error but introduces machine error. may replicate obvious error over and over, less noticeable than human error, harder to assign accountability.
Risk of knowledge detereoration from tech advances
as tech increases, hands on knowledge decreases. making it harder to identify when system is failing or not following sound principles.
risk of accountability from tech advances
system cannot be held responsible due to complexity. individuals can avoid responsibility.,
risk of professionalism and trust from tech advances
complex knowledge and skills lost. professional judgement lost, understanding of customer needs and ethical values.
risk of transparency from tech advances
machine learning teaches system how to solve problem. may not be transparent.
risk of bias from tech advances
AI bias, bias of human operatives, bias as system develops.
