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GgoogleCA first seen 6 h ago, last 4 h ago, peak #1

Financial regulator to tighten guardrails on banks' use of AI

Original: ai

Canada's financial regulator is moving to implement tighter guardrails on how banks use artificial intelligence. The measures aim to ensure banks deploy AI in lending, fraud detection and customer service without exposing customers or the financial system to unmanaged risks. The move follows growing pressure on regulators worldwide to keep pace with rapid AI adoption in finance.

Why now: Regulators are under mounting pressure to set rules for banks' rapidly growing use of AI.

Office of the Superintendent of Financial InstitutionsCanadian banksThe Globe and Mail

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