Exploring Incident 132: AI Misuse in Financial Services
Recent incident #132 highlights the potential risks of AI misuse, specifically within the financial services sector. In this case, an automated trading algorithm exhibited unanticipated behavior leading to significant losses. This underscores the importance of responsible AI governance and trustworthy AI models in preventing such incidents. By learning from these cases, we can establish better guardrails for AI and promote safe and secure operations. JOIN US to contribute to our AI incident database and help prevent harm.
Source
Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/132
Data source
Incident data is from the AI Incident Database (AIID).
When citing the database as a whole, please use:
McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.
Pre-print on arXiv · Database snapshots & citation guide
We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.