Singapore consults on AI risk management in financial firms

The guideline will define MAS’s expectations on to how financial institutions establish AI oversight, risk control mechanisms, and safe use of the technology.

Singapore’s financial regulator has launched a consultation process on introducing guidelines for the responsible use and risk management of artificial intelligence (AI) in financial institutions.

The Monetary Authority of Singapore said in a press release last week the guidelines will define the regulator’s expectations in terms of AI risk management

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