Blinded by Transparency: AI Disclosure Practices in the Canadian Financial Industry

This thesis investigates transparency practices related to the governance and communication of the use of artificial intelligence (AI) in the Canadian banking industry through a case study of Canada's five largest banks. By asking how AI and data practices are framed and communicated, what beliefs and values are expressed, and what are the implications for public trust and future policy, this thesis challenges our reliance on transparency as a form of governance. The study employs a multi modal approach, evaluating the content and discourse of key documents and a series of interviews taken with bank executives. The research finds that the banks’ approach to framing and communicating their data governance practices circumscribes their view of potential harms and limits our visibility into how AI is employed. The findings provide insight into potential directions for AI policy and offer a benchmark for future research and regulatory efforts.