Posted 3/27/2024, 1:01:51 PM
Treasury Report Calls for Safeguards to Manage AI Risks and Promote Responsible Innovation in Finance
- Report identifies opportunities and challenges AI presents to security and resiliency of the financial sector.
- Outlines steps to address AI-related operational, cybersecurity, and fraud risks.
- Recommends expanding NIST AI Risk Framework and developing "nutrition labels" for AI systems.
- Calls for international coordination on AI regulation and additional research into explainable AI.
- Treasury to work with regulators and industry on key initiatives around safe AI adoption.
