U.S. Treasury Releases AI Risk Management Tools for Financial Institutions

The U.S. Department of the Treasury has released two new artificial intelligence (“AI”) resources intended to help banks and other financial institutions adopt AI more securely and consistently: (1) an Artificial Intelligence Lexicon, and (2) a Financial Services AI Risk Management Framework (“FS AI RMF”). These tools are the first deliverables in a broader six-part Treasury initiative focused on AI cybersecurity, governance, and operational resilience for the financial sector.... By: Krieg DeVault