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Money, Power, and AI: Automated Banks and Automated States

Edited by: Zofia Bednarz, Monika Zalnieriute

ISBN13: 9781009334327
Published: November 2023
Publisher: Cambridge University Press
Country of Publication: UK
Format: Hardback
Price: £95.00



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In this ambitious collection, Zofia Bednarz and Monika Zalnieriute bring together leading experts to shed light on how artificial intelligence (AI) and automated decision-making (ADM) create new sources of profits and power for financial firms and governments. Chapter authors—which include public and private lawyers, social scientists, and public officials working on various aspects of AI and automation across jurisdictions—identify mechanisms, motivations, and actors behind technology used by Automated Banks and Automated States, and argue for new rules, frameworks, and approaches to prevent harms that result from the increasingly common deployment of AI and ADM tools. Responding to the opacity of financial firms and governments enabled by AI, Money, Power and AI advances the debate on scrutiny of power and accountability of actors who use this technology. This title is available as Open Access on Cambridge Core.

Subjects:
IT, Internet and Artificial Intelligence Law
Contents:
Foreword by Frank Pasquale
Introduction Monika Zalnieriute and Zofia Bednarz
1. AI in the financial sector: policy challenges and regulatory needs
Teresa Rodríguez de las Heras Ballell
2. Demystifying consumer-facing fintech: transparency and accountability in automated financial advice tools
Jeannie Paterson, Tim Miller and Henrietta Lyons
3. Leveraging AI to mitigate money laundering risks in the banking system
Doron Goldbarsht
4. AI opacity in financial industry and how to break it
Zofia Bednarz and Linda Przhedetsky
5. The automated welfare state: challenges for socio-economic rights of the marginalised
Terry Carney
6. A new 'machinery of government'? the automation of administrative decision-making
Paul Miller
7. The tale of two automated states: why a one-size-fits-all approach to administrative law reform to accommodate AI will fail
José Miguel Bello y Villarino
8. The islamophobic consensus: datafying racism in Catalonia
Aitor Jiménez and Ainhoa Nadia Douhaibi
9. Law and empathy in the automated state
Cary Coglianese
10. Sorting teachers out: automated performance scoring and the limit of algorithmic governance in the education sector
Ching-Fu Lin
11. Supervising automated decisions
Tatiana Cutts
12. Against procedural fetishism in the automated state
Monika Zalnieriute.