Banks, Ai Partners Must Share Responsibility For Safety: Occ’s Hsu

Acting Comptroller of the Currency Michael Hsu emphasized the need for a shared responsibility framework between the banking and finance sector and their AI partners to address potential risks and threats arising from the use of AI. He suggested using the cloud computing model as a blueprint and mentioned the newly established U.S. Artificial Intelligence Safety Institute as a potential resource for developing such a framework. Treasury Secretary Janet Yellen also warned of the significant risks associated with using AI in finance.