RBI Policy
To set up committee to form framework for ethical use of AI
This story was originally published at 12:52 IST on 6 December 2024
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--RBI Das: To moot framework for responsible, ethical AI use
MUMBAI – A committee comprising experts will be set up to recommend a Framework for Responsible and Ethical Enablement of AI in the financial sector, Reserve Bank of India Governor Shaktikanta Das Friday said while announcing the outcome of the Monetary Policy Committee meeting.
"While the benefits are many, the attendant risks like algorithmic bias, explainability of decisions, data privacy, among others, are also high. To harness the benefits, it is critical to address the attendant risks early in the adoption cycle," Das said. The details of the committee will be notified separately. End
Reported by Kshipra Petkar
Edited by Akul Nishant Akhoury
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