FSB consults on sound practices for responsible AI adoption

FSB SRC Chair Bowman introduced the FSB Consultation Report on Sound Practices for Responsible Adoption of AI in finance.

The FSB is formalising international expectations on AI risk management, model governance, third-party dependencies and financial stability implications. Firms deploying AI in credit, trading, fraud and compliance should align controls with the emerging global baseline.

Shapes global supervisory expectations for AI model risk, third-party concentration and operational resilience.

Global AI standard-setting affects model risk, vendor management and compliance across business lines.

“In her remarks, Michelle W. Bowman, Chair of the FSB Standing Committee on Supervisory and Regulatory Cooperation (SRC), discusses the FSB’s Consultation Report on the Sound Practices for Responsible Adoption of Artificial Intelligence.”