[ET News] [Special Report] Fostering AI and Big Data in the Financial Sector, in Need of Urgent Policy Alternatives

On November 21, 2022, the ET News reported on the seminar presentation given by Hwan Kyoung Ko, an attorney at Lee & Ko. During the ‘Financial Data Conference 2022’ hosted by the Korea Credit Information Services, Mr. Ko opined that the conflict between the current legal system and the system resulting from the activation of AI should be improved. While referring to the case of AI chatbot “Iruda,” which suspended its service due to unfiltered inflammatory remarks, Mr. Ko stated that it is necessary to take caution to ensure appropriate pseudonymization for the purpose of utilizing unstructured data for machine learning and AI-based service development, etc.