What the Bank for International Settlements (BIS) Says About Governing AI in the Financial Sector

AI is revolutionising the financial sector, enhancing efficiency, personalisation and risk management. The Bank for International Settlements (BIS) highlights key regulatory challenges, including governance, data integrity, and oversight of third-party providers.

What the Bank for International Settlements (BIS) Says About Governing AI in the Financial Sector

From Efficiency to Accountability: The BIS on AI's Impact in the Financial Sector

The Bank for International Settlements (BIS) has released its latest findings on the growing use of artificial intelligence (AI) in the financial sector. With its focus on operational efficiency, risk management, and customer experience, the report delves into how AI is reshaping the banking and insurance markets.

However, it doesn’t shy away from addressing the associated risks and regulatory challenges, signalling areas where oversight needs to catch up with innovation.

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