Responsible AI

Embedding Responsible AI practices in financial services

Are you ready to implement Responsible AI (RAI) practices that not only meet demanding regulatory requirements but also drive innovation and secure stakeholder trust? Responsible AI is not just a compliance tool — it’s the guiding framework that ensures financial institutions thrive in the evolving AI landscape.

Embedding Responsible AI practices in financial services

The AI landscape is rapidly evolving, with AI systems becoming an integral part of the operations of many financial institutions. Associated opportunities, such as increased efficiency and personalised customer journeys, are also accompanied by increasing regulatory scrutiny and ethical demands. By implementing a RAI (Responsible AI) framework, financial institutions will not only ensure compliance but also build trust, foster innovation, and scale their AI capabilities responsibly.

ACE as your strategic partner in Responsible AI

ACE is a boutique consulting firm dedicated exclusively to the financial sector, with specialised expertise in Responsible AI. We believe in working closely with you to orchestrate, align and guide strategies tailored towards your organisation’s unique objectives. By partnering with ACE, you gain a trusted advisor committed to capturing the value of AI in a responsible way. We’re here to support you in every step of the way, through:

Tailored expertise

ACE collaborates with you to identify and address your challenges, offering flexible solutions, such as the implementation of the RAI framework or AI-empowered policies.

Industry-leading insights

Our experts frequently take part in webinars and keynote lectures on Responsible AI, keeping us at the forefront of AI thinking and ensuring our clients receive up-to-date insights and guidance.

Cutting-edge AI technology

Our Responsible AI framework was developed using ACE’s own AI technology, demonstrating that we not only advise on Responsible AI, but also firsthand understand the related challenges and opportunities.

Unlike other automated solutions, RegAI combines deep regulatory expertise with our Responsible AI framework, offering features such as a contextually-aware AI assistant, automated requirement extraction, policy analysis, comparison, writing and enhancement, and actionable impact assessments.

Learn more about RegAI

What we offer

Our propositions are designed to enable organisations to navigate the complexities of AI governance, ethics, and compliance with precision and impact. Unlike traditional IT auditors or KPI-driven approaches, we focus on orchestrating and aligning cross-functional teams to ensure seamless and effective implementation of Responsible AI. Our expertise blends regulatory change management with deep knowledge on the Responsible AI principles, tailored to the needs of financial institutions and players in the financial sector.

We offer a modular approach, allowing clients to select from the following range of specialised building blocks:

Services to help you develop an AI innovation vision, implement strategies, assess regulatory impacts, and manage relationships with regulators to ensure compliance while staying competitive.

Solutions to establish robust AI governance frameworks, enhance policies and procedures, and align your organization with ethical, cybersecurity, and operational standards.

Tools and services to help you identify and manage AI risks, implement monitoring systems, and ensure your AI solutions are secure, reliable, and sustainable.

Programs to train and engage your teams with tailored sessions, ethical decision-making workshops, and strategies for fostering effective cross-functional collaboration.

ACE is equipped to deliver tailored and targeted solutions that not only meet regulatory requirements but fit within your current organisational context and AI ambition, while also advancing ethical AI practices across the organisation. Whether it’s developing an AI innovation vision, conducting actionable AI Act impact assessments, or designing robust policies and procedures, our services enable organisations to be competitive, compliant, and secure.

Complimentary, we also offer a multi-level approach to implement Responsible AI and meet AI Act requirements within the mandated timeline. Our approach guides organizations through every stage of their AI journey, from conscious use case experimentation with GenAI to adopting the light version of the ACE RAI Framework for controlled, low-risk AI operations. We help businesses take confident first steps in risk-conscious innovation, establish guardrails within their risk appetite, and scale AI responsibly through a fully integrated governance structure.

1.

Conscious use case experimentation

Supporting the initial stages of risk-conscious experimentation and exploration of Generative AI (GenAI) use cases.

Quickly set the company start with GenAI experimentation in motion
First steps in risk conscious innovation
Stepping stone towards the light Responsible AI framework
Advice on roadmap of two use cases involving conversational AI through a chatbot application

2.

The light version of ACE RAI Framework

Facilitating low-risk AI experimentation and implementation in a controlled environment within risk appetite.

Foundation for full conscious risk steering
Pinpoints key steps for confident adoption by putting minimum guardrails in place
Structures Responsible AI journey
Creates minimum AI literacy for involved stakeholders

3.

Full implementation of Responsible AI

Enabling scoping and scaling of AI use cases as part of the overall business strategy driving value in a responsible way.

A fully integrated governance structure and oversight mechanisms
Cross-functional collaboration
Comprehensive ethical and compliant AI practices
Continuous AI risk management and auditing
Long-term Responsible AI innovation

“Adopting Responsible AI practices today means securing trust, managing risk, and achieving compliance with confidence tomorrow”

Responsible AI framework

To support financial institutions in embedding Responsible AI practices, we developed the ACE Responsible AI Framework. This framework provides a strategic pathway for institutions to not only comply with regulations like the AI Act but also to innovate and scale their AI capabilities responsibly, enhance their operational efficiency, strengthen trust with clients and stakeholders, and gain a competitive advantage by fostering a culture of ethical innovation.

Six key domains provide a robust foundation for navigating the dynamic AI landscape and meeting regulatory requirements. These domains enable strong orchestration and effective change management within your organisation, mitigate risks associated with AI deployment, enhance data quality management, and support sustainable long-term growth in an evolving regulatory environment. The ACE RAI Framework structures the Responsible AI journey, pinpointing key elements for confident adoption and compliance with AI Act.

Our Responsible AI framework provides a structured approach to implementing Responsible AI within your organisation. This ensures a seamless integration of all necessary elements for comprehensive adherence to ethical standards and regulatory requirements. The framework is complemented by tailored deliverables essential for effectively embedding Responsible AI practices across your operations, supporting long-term accountability and trust.