Treasury publishes report on risks of AI in financial sector

by America's Credit Unions

A new report from the U.S. Department of the Treasury identifies potential opportunities and risks for artificial intelligence (AI) on the security and resiliency of the financial services sector.  The report covers multiple ways to address AI related changes, including:

  • Close the gap for in-house AI use and fraud data between large and small institutions;
  • Address “regulatory fragmentation” for AI;
  • Expand the National Institute of Standards and Technology AI risk management framework;
  • Create best practices for data supply chain mapping;

 

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