Singapore issues guidelines for ‘responsible use’ of AI
MAS says financial institutions can adopt different approaches in proportion with their risk profiles
The Monetary Authority of Singapore has issued guidelines for financial institutions that set out its expectations for the responsible use of artificial intelligence.
The MAS today (October 7) published a 30-page document that allows financial institutions to tailor their approaches to AI risk management according to their own risk profiles. It sets out four “key expectations”: strengthening oversight of AI usage, identifying risks, managing third party use of the technology, and proportional
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