The blog discusses why AI governance is vital for safe, ethical, and efficient AI use in banking. Challenges such as algorithm bias, data privacy, and transparency arise as AI adoption grows in tasks like fraud detection and credit scoring. This blog outlines the importance of implementing AI governance frameworks to ensure compliance, fairness, and accountability. It also discusses best practices for banks to adopt, including risk assessments, continuous monitoring, and regular audits to maintain trust and operational resilience in AI applications.
The post AI Governance in Banking: Mitigating Risks and Maximizing Benefits first appeared on TestingXperts.