ACPR (Autorité de Contrôle Prudentiel et de Résolution), Banque de France publishes “Governance of Artificial Intelligence in Finance" discussion document

The Autorité de contrôle prudentiel et de résolution (ACPR) has just published a discussion document on the governance of Artificial intelligence (AI) algorithms in finance. This work builds on the ACPR’s 2018 report and the workshops it conducted between March 2019 and May 2020 with voluntary participants from the financial sector on specific use cases of AI.

Financial actors are eager for regulatory guidance regarding Artificial Intelligence. This technology generates opportunities as well as risks – operational and otherwise. The scope of the document is restricted to ML (Machine Learning), which happens to be probably the most intensely studied field within AI.

This article provides further insight on the AI design and development principles, evaluation and governance of algorithms.