In its use of AI, OP Financial Group is at the forefront of northern European companies. AI algorithms can detect signs of fraud, prevent money laundering, recommend products to personal customers, forecast financial market trends, and assist with property valuation as part of the home loan process.
OP Financial Group was one of the first Finnish institutions to publish its ethical principles concerning AI. Such principles are applied to assessing responsible use of AI within the Group.
OP Financial Group uses an AI transparency assessment model, its key tool for evaluating responsible use of data and AI. The model was created in 2022, based on the results of the Artificial Intelligence Governance and Auditing (AIGA) project coordinated by the University of Turku. The AIGA project focused on improving decisions made by algorithms, particularly on enhancing the reliability, transparency and comprehensibility of such decisions.
OP Financial Group publishes AI transparency reports on its applications and services. Such reports primarily aim to enhance the transparency and comprehensibility of AI used extensively and regularly by OP, while providing a rationale for the choices and grounds associated with use of AI.