Abstract:

The field of artificial intelligence is expanding day by day. Initially used for testing or minor purposes, it is starting to be taken more and more seriously not only by individuals but also by institutions. Examples of its use in various fields and processes can now be seen, including management departments that deal with financial decision-making in terms of managing teams, but also the overall functioning of a given company. The intrusion of AI into management areas can raise ethical concerns that need to be confronted, assessed and then resolved. It is important that an appropriate ethical framework is in place in this regard, as this will ensure the fair and trustworthy implementation of the new technology into one of the most important areas of the business. The ethical framework for the use of AI in the management of financial decisions includes elements such as algorithmic bias, system transparency and compliance with the law and public trust.

The relationship between AI innovation and ethical integrity in the financial management process can be complex. It is therefore necessary to carefully define an ethical framework through which clear guidelines are created on governance structure, regular audits and cooperation between stakeholders. This action will ensure that the potential of AI is maximised while minimising negative impacts. The ultimate goal of introducing AI into management operations is to ensure fairness, transparency and accountability while gaining as many benefits as possible .^[1]

^[1] Omoshola S. Owolabi1, Prince C.U., Nathaniel T.A., Christopher I., Riyad B.I., Bishal J.T.C., Ethical Implication of Artificial Intelligence (AI) Adoption in Financial Decision Making, "Computer and Information Science", Vol. 17, No. 1, 2024, p. 49.