RBI panel submits report on framework for AI use to foster innovation and mitigate risks in financial sector

As Artificial Intelligence enters everyday life, the Reserve Bank of India’s panel on Wednesday submitted its report on framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector.

“The framework is anchored in seven sutras which serve as the foundational principles and is operationalised through twenty-six targeted recommendations under six strategic pillars,” said RBI in its document.