Currency Comptroller Hsu warned that AI system training and unpredictable outputs may cause the system to learn and behave in a way that is inconsistent with our values, and in turn, may create significant governance and accountability challenges.
On June 16, Michael Hsu, the Acting Comptroller of the Currency gave remarks at the American Bankers Association’s Risk and Compliance Conference about the risks of tokenization and AI.
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As banks grapple with these two kinds of innovation in particular, Acting Comptroller Hsu referred to OCC guidance regarding New, Modified, or Expanded Bank Products and Services, as well as guidance on Model Risk Management and regarding Third-Party Risk Management
Ask Permission, Not Forgiveness for Responsible Innovation: Acting Comptroller Hsu Discusses Tokenization and AI | Cadwalader, Wickersham & Taft LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.