FSU and Bank of Ireland launch AI Agreement

Human centric approach to be central to AI usage – says FSU

The Financial Services Union and Bank of Ireland group have come together to launch an AI agreement which is the first such initiative to take place in the retail banking sector.

John O’Connell, General Secretary of the FSU welcomed the publication of the agreement and described it as a breakthrough in the sector on how the advancement of AI is monitored and regulated jointly by business and unions.

Commenting on the publication Mr O’Connell said :

“The advancement of AI in the financial services sector needs constant oversight. Agreement like this help to instil trust within staff that any changes to their roles and responsibilities will be subject to rigid  procedures.

We welcome the human centric approach to the use of AI in the policy, that the impacts of AI will be negotiated through our collective bargaining procedures and training and reskilling will be prioritised by the Bank.

The FSU are currently finalising a sector wide survey  with TASC on the possible effects of AI in the financial services sector. We need to be prepared for the effects of AI and have strong regulation in place to ensure that AI is managed safely and in a transparent manner.

The publication of this document today is a tangible step in the right direction, and we look forward to working with Bank of Ireland in a collaborative fashion to ensure the implementation of the policy.”

ENDS

Agreement Document: https://www.fsunion.org/assets/files/pdf/boi_fsu_ai_agreement.pdf