Japan’s Financial Services Agency (FSA) has published an AI discussion paper (Version 1.0) outlining considerations for the responsible use of AI in the financial sector. The document presents use cases for both traditional and generative AI (including business process automation, customer interaction, risk management, and market analysis) and identifies challenges such as explainability, bias, cybersecurity, data management, and the potential misuse of AI in financial crime. The document also includes examples of AI governance measures adopted by financial institutions, such as the development of internal policies and staff training programmes.
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