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OCC tells banks to be cautious when considering AI
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Banking, Consumer Protection, Emerging Technology
Wednesday, July 5, 2023
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In remarks from Acting Comptroller of the Currency Michael Hsu to the American Bankers Association’s Risk and Compliance Conference, Hsu warned the unpredictability of artificial intelligence (AI) could pose significant risks to financial systems. Hsu further cautioned that banks must manage risks when adopting technologies such as digital assets and AI.
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