AI in financial services: Need for safeguards and risk management

By Darcy Ammerman and Srinidhi Akkur (May 11, 2023, 1:37 PM EDT) -- In order to promote discussion on the responsible use of artificial intelligence in the Canadian financial services industry and to advance the conversation on best practices for AI risk management, the Office of the Superintendent of Financial Institutions (OSFI) and the Global Risk Institute (GRI) created the Financial Industry Forum on Artificial Intelligence (FIFAI), bringing together financial services experts from industry, government and academia....