Algorithmic Trust and Regulation: Governance, Ethics, and Social Impact Blueprint for Indonesia’s Central Banking

16 February 2024



Arif Perdana, Saru Arifin and Novi Quadrianto present findings from their study ‘Algorithmic Trust and Regulation: Governance, Ethics, and Social Impact Blueprint for Indonesia’s Central Banking’ at the University of Sussex Business School.

This in-person event will be hosted by the ESRC funded Digital Futures at Work Research Centre and the University of Sussex’s School of Engineering & Informatics and Business School.


Algorithm-driven financial systems profoundly impact monetary stability and payment transactions. While they offer numerous opportunities, such as automation and predictive analytics, they also pose ethical concerns, especially from biases in historical datasets. Recognizing the importance of governance, ethics, legal, and social impacts (GELSI), this study introduced a GELSI framework tailored for algorithmic systems relevant to monetary activities, particularly relevant to the central bank activity in Indonesia. Using the Indonesian context and guided by the Kantian philosophy, which emphasizes duties and individual liberties, the framework aims to enhance transparency, accountability, and autonomy in financial institutions. Drawing from in-depth interviews with domain experts in Indonesia, a country undergoing significant regulatory evolution, we employed interview analysis and an Analytical Hierarchy Process. The findings emphasize the centrality of ethical deployment of algorithmic systems, robust data governance, and solid government policies.

Date & Times

Friday 16 February

12.45pm: Doors open, coffee and tea available

1pm: Presentation begins


Room G32, Jubilee Building, University of Sussex Business School

This event is in-person only.


Jacqueline O’Reilly, Professor of Comparative Human Resource Management, Co-Director ESRC Digital Futures at Work Research Centre, University of Sussex Business School 


Arif Perdana, Associate Professor in Data Science, Monash University

Saru Arifin, Senior Lecturer, Universitas Negeri Semarang, Indonesia


Novi Quadrianto, Professor of Machine Learning, School of Engineering and Informatics, University of Sussex