Growing AI use could pose financial stability risks: Shaktikanta Das

The increasing adoption of artificial intelligence (AI) and machine learning in financial services globally can lead to financial stability risks, and warrants adequate risk mitigation practices by banks, Reserve Bank of India governor Shaktikanta Das said on Monday.

In his keynote address at the conference on ‘Central Banking at Crossroads’, Das said the possibility of extending real-time gross settlement to settle transactions in key trade currencies like US dollar, euro and pound could be explored through bilateral or multilateral agreements.