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RBI committee to study global regulations on AI, identify risks

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The committee will also try to identify potential risks associated with AI and a framework to evaluate and monitor the use of the technology in the financial services sector
The Reserve Bank of India (RBI) has established a committee to delve into the global regulatory landscape concerning Artificial Intelligence (AI) and Machine Learning (ML), aiming to identify potential risks and benefits associated with these technologies. This initiative reflects the RBI's proactive approach to understanding and regulating AI, especially in light of its increasing integration into financial services. The committee will explore how AI can enhance efficiency, customer experience, and risk management while also addressing concerns like data privacy, security, and ethical use. The study will look into international best practices to help shape India's regulatory framework, ensuring that AI applications in finance are both innovative and secure.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/technology/artificial-intelligence/rbi-committee-to-study-global-regulations-on-ai-identify-risks/ar-AA1wwt84 ]