The U.S. Department of the Treasury has released a Request for Information (RFI) on the uses, opportunities, and risks of artificial intelligence (AI) in the financial services sector. The RFI seeks to understand how AI is being used within the sector, the opportunities and risks presented by AI, and recommendations for enhancements to legislative, regulatory, and supervisory frameworks applicable to AI in financial services. The RFI builds on prior work done by Treasury, including reports and outreach relating to AI, and seeks input from a broad range of stakeholders, including financial institutions, consumer and small business advocates, academics, and non-profits. The RFI discusses a vast array of complex issues, including anti-money laundering and anti-fraud compliance, fair lending and consumer protection concerns, and the need for explainability and transparency in AI systems.
U.S. Treasury Seeks Input on AI in Financial Services Sector
The RFI seeks to understand how AI is being used within the financial services sector and the opportunities and risks presented by developments and applications of AI within the sector.
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