Technology
Mar. 1, 2024
Banks on their own when it comes to governing AI use
Banks are more focused on using generative AI to combat security threats rather than integrating it into lending decision-making, with the potential for bias in data models weighing heavily.
The general counsel of a community development bank said federal regulators were making regular requests for details on how banks were employing artificial intelligence in their internal systems but warned that government legislation guiding the use of the technology “isn’t going to happen anytime soon.”
Richard H. Harvey Jr., an executive vice president, general counsel and director of compliance risk at Oakland-based Beneficial State ...
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