Financial Standards Setter To Focus On Use Of AI

Law360, London (April 16, 2021, 1:33 PM BST) -- A global standards-setting body for the prudential regulation of banks said on Friday that one of its main focuses for the year ahead will be on the role of artificial intelligence in the sector.

Computer systems used in the banking industry and in supervision, such as machine learning and technology security, will also form a vital part of the Basel Committee on Banking Supervision's work, the body said in its work program for 2021-22.

Machine learning, a form of AI in which computer algorithms improve automatically through experience and through the use of data, is part of the emerging technology used in...

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