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What will be the key focus area of RBI's FREE-AI committee by December 31, 2025?
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Other • 25%
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RBI Forms Eight-Member Committee for FREE-AI Initiative on Ethical AI Framework in Financial Sector
Dec 26, 2024, 09:46 AM
The Reserve Bank of India (RBI) has established an eight-member committee tasked with developing a framework for the responsible and ethical use of artificial intelligence (AI) in the financial sector. This initiative, referred to as the Framework for Responsible and Ethical Enablement (FREE-AI), aims to ensure that AI technologies are utilized effectively while addressing potential risks associated with their deployment. The formation of this committee follows a panel of experts' recommendation for a legal framework that would facilitate government collaboration with AI developers in the event of serious issues arising from AI technologies.
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