AIR partnered with Google to host a webinar, ‘AI and Financial Regulation: Exploring Benefits and Managing Risks’. Artificial intelligence and machine learning (AI/ML) are transforming the way financial services institutions monitor and mitigate risk and ensure regulatory compliance. The discussion included policymakers, thought leaders, technologists, and AI/ML subject matter experts to learn more about AI/ML advances, regulatory considerations, and ways to maximize the benefits and mitigate the risks of these new technologies.
– How can regulators and risk managers ensure AI/ML-driven outcomes meet stated objectives?
– How can AI/ML be made “explainable”?
– How can we assure that it produces fair outcomes?
The speakers discussed some of the questions raised in the recent joint agency issuance, Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning. They also focused on the application of AI/ML to fraud detection and anti-money laundering work, including through new opportunities raised by December’s legislation updating the Bank Secrecy Act.
Keynote Fireside Chat
U.S. Representative Bill Foster, Chairman of the House Financial Services Committee Task Force on Artificial Intelligence
U.S. Representative Anthony Gonzalez, Ranking Member of the House Financial Services Committee Task Force on Artificial Intelligence
Panel: AI in Financial Regulation
Moderator: Daniel Gorfine, Founder & CEO, Gattaca Horizons
Natalia Bailey, Policy Advisor, Digital Finance, Institute of International Finance
Sarah Green, Principal, Global Head, Financial Crimes, Vanguard Group
Royal Hansen, Vice President of Engineering, Google
Minerva Tantoco, former CTO, City of New York
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