FSB consults on responsible AI adoption

The Financial Stability Board is asking for views on a set of proposed sound practices to help financial institutions responsibly navigate AI adoption. It has proposed a set of 12 practices covering:

• governance;
• management and mitigation of risks through all stages of development and deployment; and
• management of AI-related cyber, IT and third-party risks.

Consultation closes on 22 July, and the FSB will publish its final report in October.