What’s in the black box? Rise of artificial intelligence in banking presents challenge for OSFI

  • “A federal regulator is signalling it could tighten up rules around the use of artificial intelligence by banks, a practice the watchdog suggests could pose risks to lenders as decisions made by the “black box” technology grow trickier to explain. 
  • ‘The behaviour of a black box system is observed only from its inputs and outputs,’ Sarfati wrote. ‘AI models may be technically complex and not transparent, so financial institutions must find solutions to interpret AI models into their business context.'”


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