For the purposes of this assignment, you will identify and discuss ethical issues in data and analytics for your current industry or an industry you wish to work in.

1. Identify your current or aspiring industry and explainpotential ethical issuesrelated to data and analytics.

• What are the potential ethical issues?
• What could be the causes of these issues?

1. Describe how the ethical issues of your current or aspiring industry are similar to or different from potentialethical issues the superstore should consider.

• Which of the ethical issues you identified above are similar to those of the superstore's retail industry?
• Which of the ethical issues you identified above are different from those of the superstore's retail industry?

This is the requirements for my paper, can you tell me if I am heading down the correct path with or am I way off track. Thank for your help!

I am currently working in the FinTech Industry.Fintech, a combination of the words "financial" and "technology", is a relatively new, and often nebulous term that applies to any emerging technology that helps consumers or financial institutions deliver financial services in newer, faster ways than was traditionally available (Barasch, 2019). FinTech is creating a greater understanding of financial literacy and allowing consumers to take charge of their financial lives. This is empowering but can also lead to several potential ethical issues such as moral distancing (pointing to model's vs a human when issues arise), automation of financial professionals (AI), and accountability.

Fintech is becoming the mainstay for consumers' financial wellness and knowledge. With this increased access to financial services, customers' personal information has become readily available and easily accessible (Demir, Ramkumar, 2020). FinTech is still poorly regulated, so there is more risk involved for consumers of FinTech solutions in society at large. For example, "know your customer" regulations as well as anti-money laundering and anti-terrorist financing regulations make traditional banks less inclined to provide financial services to certain parts of the market. FinTech's are yet to be fully regulated by these laws (Demir, Ramkumar, 2020). Fintech companies are constantly developing their technologies, making everything faster and more efficient cutting out the "middleman" this leads to the inability to account for their actions on behalf of their customers. The collection of large amounts of data is a concern as fraudulent companies use data mining to target innocent people for various scams.

Comparing the potential ethical issues of FinTech to the Superstore we see that there are several differences. Automation is not an issue, and any mistake or misuse of data/services can be easily traced back to point a finger at the cause.Superstore is only collecting the necessary data to complete their customers purchases. They are not collecting any PII (Personable Identifiable Information) that is not needed to fulfill their orders which reduces the risk of misuse of data. In each instance where a company is collecting data there is always going to be a concern of potential ethical issues.Companies will need to put a process in place to monitor misuse and limit the desire for creation of these potential issues.

References

Barasch, Ron (2019). What is FinTech. Yodlee. https://www.yodlee.com/fintech/what-is-fintech).

Demir, Robert, Ramkumar, Raghuveer (2021) What about the ethics of FinTech? FinTech Weekly. https://fintechweekly.com/magazine/articles/what-about-the-ethics-of-fintech