GCash Good Data for Good Promotes Ethical AI Use

“AI is a valuable tool for financial innovation, but it must be developed and implemented with fairness, transparency, and robust data security measures in place. This initiative is one of GCash’s conscious efforts to align AI with a moral compass, human values, fairness, transparency, and accountability, which we treat as an urgent matter that impacts human lives, society, and the environment.” ~Sara Venturina, GCash Chief Data Officer

(L-R) GCash data privacy officer Atty. Rob Real, chief transformation officer Ron Testa, head of data enablement Marah Dimasupil, guest speaker Dr. Ben Teehankee, GCash analytics steward on AI ethics Jannelle Molina.

As artificial intelligence (AI) gains popularity, its widespread use raises ethical, transparency, and existential risk concerns, particularly in the financial technology landscape. Fintech institutions must address the urgent demand for ethical considerations and responsible AI systems in order to create safe and secure AI products. This includes requiring thoughtful, human-centered design to improve data privacy and security, as well as transparency, accountability, human oversight, and fairness at the forefront of AI development.

With responsible finance at its core, GCash emphasizes the importance of upholding these values as it transforms the financial sector with the launch of its AI Ethics roadshow as part of the GCash Good Data for Good initiative. In line with its mission to champion inclusive finance, this initiative aims to effectively use AI within its organization and across the fintech space to create a financial future that fosters an ethical climate, inclusivity, and security, resulting in a collaborative ripple of positive change for millions of Filipinos.

To further embrace the AI revolution, lead with vision and integrity, and confidently navigate the future of fintech, the roadshow featured a series of talks and online training sessions for GCash employees and partners who play critical roles in the company's financial inclusion efforts. Furthermore, this program supports workforce development by cultivating a culture of ethical excellence, adaptability, resilience, and innovation.

As part of its commitment to promoting ethical AI practices, GCash is a proud member of the AI Verify Foundation, a global community that brings together AI owners, solution providers, users, and policymakers to create reliable AI systems. This membership demonstrates GCash's commitment to Responsible AI, allowing the company to compare its efforts to global standards and strengthen its position on ethical AI integration.

Furthermore, the GCash Data for Good initiative reflects the organization's commitment to fostering an ethical data-driven culture within the fintech community. This includes strengthening its credibility in data management and advancing the integration of AI into GCash's AI-powered in-app features, including its newest innovations such as GScore AI, which calculates users' creditworthiness and loan eligibility based on their daily app usage, removing the need for forms or additional documents, hyper-personalized ads, and GCoach AI, which is an in-app guide that uses generative AI to educate users on spending, saving, and growing their money.

Similarly, through this initiative, GCash improves not only its transparent AI decision-making process, which is supplemented by human oversight to ensure it is steeped in ethical considerations that prioritize the welfare of its users, but also its risk management by proactively mitigating potential future risks caused by data mishandling or the deployment of biased AI models.

“At GCash, we see the rise of AI as an opportunity to explore this next great frontier where the boundaries between business growth and higher purpose are merging into one, where doing good really is good for business.” ~Marah Dimasupil, GCash head for data enablement

As the largest digital ecosystem in the country, GCash continues to stand at the forefront of responsible, fair, and ethical AI usage to help build the financial progress of Filipinos through secure, accessible, and innovative financial solutions.

For more information, visit https://www.gcash.com

About GCash

GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.

GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.