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What will be the outcome of RBI's FREE-AI initiative on AI risk management by December 31, 2025?
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Resolution / Starting Odds
Risk Management Framework Developed • 25%
Collaboration with Tech Firms • 25%
No Significant Outcome • 25%
Other • 25%
Official reports or publications by the Reserve Bank of India
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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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No significant change • 25%
Stricter regulations • 25%
Unclear outcome • 25%
Looser regulations • 25%
Abandons restructuring • 25%
Successfully restructures as PBC • 25%
Remains as current structure • 25%
Restructures differently • 25%
Supportive • 25%
Neutral • 25%
No public response • 25%
Critical • 25%
Yes • 50%
No • 50%
Minor changes • 25%
Major changes • 25%
No changes • 25%
Unclear • 25%
Remains as current structure • 25%
Decision postponed beyond 2025 • 25%
Adopts a different structure • 25%
Successfully restructures into a PBC • 25%
No new measures announced • 25%
New partnerships for redundancy • 25%
Infrastructure upgrade • 25%
Improved monitoring systems • 25%
Decreased investment • 25%
Unclear impact • 25%
No significant change • 25%
Increased investment • 25%
Achieved $100 billion profit • 25%
Did not achieve $100 billion profit • 25%
Partnership dissolved • 25%
Milestone redefined • 25%