Regelungsvorhaben

Suggestions for addressing the challenges of use of third party artificial intelligence systems by financial institutions

Angegeben von:
Association for Financial Markets in Europe (AFME) (R001235) am 28.06.2024

Beschreibung:
While there are generic AI risks which may arise regardless of whether an AI system is developed in-house or with a third-party provider, there are particular challenges that are presented by the use by financial institutions (FIs) of third-party Artificial Intelligence (AI) systems. Such challenges can fall into two categories, which are broadly: third-party risks and AI-specific challenges. Since the former are partially addressed by existing regulation, this paper is focused on specific challenges introduced or exacerbated by AI as a technology. This may be particularly true of Generative AI.