The partnership demonstrates how AI's impact on financial services, including wealth management and private banking, is a big issue for the individuals working in the space.

Financial sector groups in Australia and New Zealand are joining forces to help professionals in the industry gain a better understanding of the ethics of putting AI to work.

The collaboration is between the Chartered Institute for Securities & Investment and The Financial Services Institute of Australasia.

The programme, which includes access to CISI’s suite of continuing professional development (CPD) e-learning and qualifications, offers FINSIA’s 23,000 members, non-members and graduates the opportunity to study for the CISI Certificate in Ethical AI. The CISI has a global membership of more than 52,000 people.

The CISI launched its Certificate in Ethical Artificial Intelligence in November 2023. The certificate was introduced as part of the City of London Lord Mayor, Michael Mainelli’s, ethical AI initiative.

Machine Learning/AI was listed as a priority future skill for the UK financial services sector by the Financial Services Skills Commission (FSSC) in a recent report, with the CISI noting that every one of the FSSC 13 future skills were being addressed by CISI’s digital CPD modules.

“AI is reshaping the financial services landscape, presenting both tremendous opportunities and complex ethical challenges. As AI becomes increasingly integral to decision-making and operations, understanding its ethical implications is not just an option but a necessity for responsible practice,” Yasser El-Ansary, FINSIA chief executive, said. “The programme will provide valuable insights and tools for navigating the ethical complexities of AI and reinforces our commitment to advancing ethical standards and fostering a deeper understanding of AI in our profession.”