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Open banking enables individual customers to own their banking data, which provides fundamental support for the boosting of a new ecosystem of data marketplaces and financial services. In the near future, it is foreseeable to have decentralized data ownership in the finance sector using federated learning. This is a just-in-time technology that can learn intelligent models in a decentralized training manner. The most attractive aspect of federated learning is its ability to decompose model training into a centralized server and distributed nodes without collecting private data. This kind of decomposed learning framework has great potential to protect users privacy and sensitive data. Therefore, federated learning combines naturally with an open banking data marketplaces. This chapter will discuss the possible challenges for applying federated learning in the context of open banking, and the corresponding solutions have been explored as well.
Privacy protection is an ethical issue with broad concern in Artificial Intelligence (AI). Federated learning is a new machine learning paradigm to learn a shared model across users or organisations without direct access to the data. It has great pot
Federated Learning (FL) is an exciting new paradigm that enables training a global model from data generated locally at the client nodes, without moving client data to a centralized server. Performance of FL in a multi-access edge computing (MEC) net
Applying Federated Learning (FL) on Internet-of-Things devices is necessitated by the large volumes of data they produce and growing concerns of data privacy. However, there are three challenges that need to be addressed to make FL efficient: (i) exe
Federated learning (FL) serves as a data privacy-preserved machine learning paradigm, and realizes the collaborative model trained by distributed clients. To accomplish an FL task, the task publisher needs to pay financial incentives to the FL server
Medical diagnostic image analysis (e.g., CT scan or X-Ray) using machine learning is an efficient and accurate way to detect COVID-19 infections. However, sharing diagnostic images across medical institutions is usually not allowed due to the concern