Expanding artificial intelligence and machine learning applications in banking

On May 25, 2021, Bank Governance Leadership Network (BGLN) participants met virtually to discuss the opportunities and risks for banks as they expand applications of artificial intelligence (AI) and machine learning, as well as implications for regulation and oversight in this area. This ViewPoints draws on pre-meeting conversations with participants and the discussion on May 25th, and focuses on the following areas:

Banks are exploring a wide range of applications
Addressing risk and oversight concerns will take time