A financial institution, Cavoodle, has implemented Woof, a customer service chatbot powered

by machine learning and artificial intelligence $($AI$)$ to improve response times and provide

personalised support to their customers. However, some customers have raised concerns

about the security of their data, as well as the potential biases and ethical issues in Woof's

responses. As a result, Cavoodle has seen a loss of trust from some customers.

BUSN$8010$ Assessment $32024$

Dr Michelle Yeong

$2$

As a recent FinTech graduate, advise the directors of Cavoodle:

a$)$ How can Cavoodle address customers' perceived security concerns regarding AI and

machine learning and their data?

b$)$ How can the financial institution ensure transparency and accountability in Woof's

responses, such as by communicating how it operates, how it makes decisions, and

how it ensures unbiased and ethical responses?