Money management difficulty, customer protection and the detection of early-stage dementia: Prof Cal Muckley, University College Dublin

Event Date: 9 October 2024

Speaker: Professor Cal Muckley, University College Dublin

Venue: CW506A, Cathedral Wing 

Time: 2pm - 3pm

Abstract:

Financial institutions need to protect their customers in vulnerable circumstances. We test if older persons' money management difficulty, e.g. paying bills and making pension decisions, can help identify vulnerable individuals with early-stage dementia. We show that clinically informed lead indicators of dementia, extended to include money management difficulty, can inform a high-performance AI model to predict a clinical diagnosis. Invariant to extensive tests, after age, money management difficulty is consistently ranked the most important lead indicator of dementia. Financial institutions can enhance their protection of customers with dementia and inform the inter-generational transfer of financial control to a reliable agent.

Published: 9 October 2024