A financial institution uses an AI system to approve loan applications.

The most relevant core principle here isFairness and Non-Discrimination. This principle aims to ensure that AI systems do notcreate or perpetuate bias, especially in high-stakes decision-making areas such asfinancial services.

According toISO/IEC 42001:2023 – Clause 6.1.2andAnnex A (A.8.2.4), organizations must evaluate and manage risks related tobias, discrimination, and ethical implicationsof AI decisions.

In thePECB Lead Auditor Guide, Fairness is cited as critical in sectors likefinance, hiring, healthcare, and where decisions may adversely impact protected groups.