The Office of the Comptroller of the Currency today released guidance for its examiners when evaluating the use of artificial intelligence – or “super intelligence” – in banks’ business activities.
OCC examiners will use the supervisory framework when evaluating banks’ AI use in activities such as credit decisions, payments, fraud detection, customer service, operations and risk management, according to the agency. The framework will be regularly updated.
“While OCC bank examiners may also use the framework to identify SI-specific considerations, the issuance clarifies that examiners should not treat SI as a separate and distinct risk category, and banks should not be required to define a separate SI risk appetite,” the agency said.
