Supervisors to work with tech sector on AI transparency project
HKMA, FCA and BIS will also engage with the banking industry over the next 12 months
Financial supervisors will collaborate with artificial intelligence firms and the banking industry on an international project designed to shed light on the use of opaque AI models in decision-making in consumer banking. The aim is to better understand biases or false information generated by the models.
Although supervisors are not expected to be able to develop advanced AI models themselves, they do need to have enough technical literacy to effectively challenge firms’ models and demand
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