RBI AI panel calls for balancing innovation with strong risk safeguards
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The Reserve Bank of India’s Committee on the Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) has emphasized the need to balance innovation with risk mitigation in the financial sector. The committee proposed seven guiding principles for AI adoption: trust, people-centricity, prioritizing innovation, fairness, accountability, design clarity, and safety. This initiative aims to promote responsible and ethical AI use in finance.
Source: Business Standard The copyright of this article belongs to the original author/organization.
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