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US bank regulator issues first-ever AI guidance for examiners
A US banking regulator has issued its first-ever guidance on artificial intelligence for bank examiners. The move sets out how supervisors should assess banks' use of AI technology, marking a milestone in the oversight of AI in the financial sector. The guidance comes as banks increasingly adopt AI tools and regulators worldwide grapple with how to manage the technology's risks.
Why now: Regulators are under pressure to establish clear rules as banks rapidly adopt AI tools.
Evidence
- US bank regulator issues first-ever AI guidance for examiners · Reuters
- US bank regulator issues first-ever AI guidance for examiners · The Mighty 790 KFGO
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