RBI proposes AI risk framework for banks
The Reserve Bank of India (RBI) on Wednesday proposed a new framework for the use of artificial intelligence as its adoption by domestic banks expand significantly. In a draft circular, the RBI urged banks to put in place proper governance, risk management, and controls, along with continuous oversight. Under the new framework, the regulator proposed broad principles to manage risks from third-party models. The regulator has sought stakeholder feedback by July 24.
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RBI proposes AI risk framework for banks Why it matters: AI News is moving the AI stack right now, and this update helps explain what changed for builders. Source: Telecomliveweb https://a2zai.ai/bytes/rbi-proposes-ai-risk-framework-for-banks-de582f6b
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