Faculty of Social and Political Sciences, UPN “Veteran” Yogyakarta Participates in ICFP-JCLI 2025 to Discuss AI Transformation in the Financial Sector

Yogyakarta, April 29, 2025 — Lecturers and students from the Faculty of Social and Political Sciences (FISIP) of UPN "Veteran" Yogyakarta took part in the prestigious 3rd International Conference and Call for Papers – Journal of Central Banking Law and Institutions (ICFP-JCLI), held on April 28, 2025, in Yogyakarta.

The delegation from FISIP UPN “Veteran” Yogyakarta included Dr. Muhammad Edy Susilo, M.Si., Vice Dean for Academic and Information Systems, and Irfan Muafi, M.Si., a lecturer from the Department of Business Administration. They were joined by eight students who attended the conference to gain insights into the latest technological developments in economics and finance.

This year’s conference carried the theme “Artificial Intelligence (AI) Transformation in the Financial Sector”, focusing on the impact of AI on financial product innovation, institutional and human resource management, regulatory challenges, and governance in the digital age. ICFP-JCLI 2025 brought together academics, researchers, and practitioners from various countries who are engaged in central banking policies, financial law, and digital economics.

In his keynote speech, Deputy Governor of Bank Indonesia, Juda Agung, emphasized the importance of responsible AI adoption in the financial sector.
“The growing benefits and urgency of utilizing AI in finance must be accompanied by strong risk mitigation. Principles such as transparency, sound governance, system reliability, ethics, and the protection of data and consumer rights are essential,” he stated.

He also highlighted four key strategies to ensure the successful transformation of AI in the financial sector:

1. Strengthening governance frameworks,
2. Enhancing comprehensive risk management,
3. Building robust and secure data management systems, and
4. Addressing third-party risks that could introduce new systemic vulnerabilities.

The conference featured a wide range of speakers from both academia and industry, sharing multidisciplinary perspectives on integrating AI into financial systems. Discussions emphasized the need for strong governance, ethical frameworks, and industry readiness in adapting to rapid technological change.

FISIP UPN "Veteran" Yogyakarta’s participation in this international forum reflects the faculty’s commitment to advancing interdisciplinary knowledge and fostering collaboration between academia and industry amid the accelerating digital transformation.