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Extract from GARP (Ted Knutson)
In a commentary on prospects for AI regulation, at Fortune.com, Principal Financial Group chief data scientist Joseph Byrum attributed the regulatory lag in asset management to the speed of AI adoption. Byrum noted that a 2017 Financial Stability Board report laid out potential risks and benefits of AI and machine learning in financial services, and he suggested “get[ting] ahead of policymakers by crafting sensible and fair industry-specific rules for the use of AI in asset management,” modeled in part on standards and ethics guidelines of the IEEE.
Joseph Byrum is an accomplished executive leader, innovator, and cross-domain strategist with a proven track record of success across multiple industries. With a diverse background spanning biotech, finance, and data science, he has earned over 50 patents that have collectively generated more than $1 billion in revenue. Dr. Byrum’s groundbreaking contributions have been recognized with prestigious honors, including the INFORMS Franz Edelman Prize and the ANA Genius Award. His vision of the “intelligent enterprise” blends his scientific expertise with business acumen to help Fortune 500 companies transform their operations through his signature approach: “Unlearn, Transform, Reinvent.” Dr. Byrum earned a PhD in genetics from Iowa State University and an MBA from the Stephen M. Ross School of Business, University of Michigan.
