Brief

Summary

The speaker highlights the importance of artificial intelligence (AI) in the finance sector, mentioning its potential to revolutionize the way banks operate and make decisions. They emphasize the need for financial institutions to ensure fairness, transparency, and accountability in AI-driven systems. The speaker identifies several aspects to consider when designing AI solutions, including fairness, transparency, accuracy, consistency, data privacy, explainability, accountability, robustness, monitoring, and human oversight. They also discuss the importance of robust governance arrangements and clear accountability frameworks when AI models are deployed in high-value decision-making use cases. The speaker concludes by emphasizing the need for a supportive regulatory framework to harness the benefits of AI while addressing potential risks and promoting responsibility.

Distinguished participants, Good Morning. 1. At the outset, let me thank the organisers for inviting me and giving this opportunity to share a few thoughts on this very pertinent theme of finance, banking and technology. In my address, I would largely focus on RBI’s efforts to foster innovation in financial ecosystem and how the emerging

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Distinguished participants, Good Morning. 1. At the outset, let me thank the organisers for inviting me and giving this opportunity to share a few thoughts on this very pertinent theme of finance, banking and technology. In my address, I would largely focus on RBI’s efforts to foster innovation in financial ecosystem and how the emerging

This content is restricted.

Reserve Bank of India

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