Why financial institutions need a clearer approach to AI governance
The IMF and Bank of England have both recently raised concerns about the risks AI could pose to the financial system, from cyber threats to systemic vulnerabilities and governance gaps. Against that backdrop, institutions are facing growing pressure to demonstrate clear accountability for how AI is used, particularly when decisions impact customer outcomes, market activity and compliance decisions.
Field CTO EMEA at Qlik.
Financial services have traditionally taken a cautious approach to AI because of the regulatory and operational risks involved. But AI is now becoming more deeply embedded across the sector, supporting everything from fraud detection and customer service to compliance monitoring and internal operations.
As adoption expands, governance frameworks that were designed for conventional software and data systems are being tested by AI models that can evolve, generate unpredictable outputs and rely on increasingly complex data environments.
Why governance expectations are growing
This growing focus on accountability is...
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