FSC urging banks to monitor AI use

11 April, 2023

Courtesy of ICRT


The Financial Supervisory Commission (FSC) says it has requested that local banks closely monitor their use of artificial intelligence in order to both protect and ensure data security.


The commission says the Bankers' Association has been given two months to complete a review of how banks are using artificial intelligence tools and whether they have adequate risk controls in place.

This comes after lawmakers called on the FSC to ensure that local banks are aware of the potential data leak risks involved in employing artificial intelligence. Lawmakers have been focusing their debate on the use of how banks are using large-language models, such ChatGPT for customer service calls.


Some lawmakers have been voicing their concerns that artificial intelligence large-language models are unable to provide adequate investment advice to customers, as it has no proper understanding of investor's financial situations or their investment goals.

Go Top