Cœuré warns of ‘black box’ problem for regulators
It “may be no coincidence” banks are turning to opaque AI for “capital optimisation”, BIS official says
The growing use of opaque artificial intelligence (AI)-driven methods by banks is creating a problem for regulators, Benoît Cœuré said today (August 19).
The head of the Bank for International Settlements’ innovation hub said a well-known problem in AI was that it could be difficult for a human to understand how an AI model arrived at its conclusions – often called the “black box” problem.
Cœuré drew a parallel to the global financial crisis, when the “complexity and opacity of internal models
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Regtech & Suptech
Regtech and suptech in central banks: 2024 survey
These technologies enable the identification and swift resolution of emerging issues, as well as preventative action, this survey indicates
Survey results: global trends in regtech and suptech for central banks
As regulatory reporting challenges continue to mount, central banks are increasingly adapting their internal systems to provide stronger supervision capabilities – specifically by adopting regtech and suptech solutions.
Central Banking FinTech & RegTech Global Awards 2024
Central Banking’s seventh annual FinTech & RegTech Global Awards showcase the ground-breaking projects undertaken within the central banking community
Suptech adoption: strategy and capacity building drives supervisory transformation
Two BR-AG representatives review the global use of suptech among central banks for enhanced digital supervision
BIS launches joint project to map supply chains
IMF, World Bank, United Nations and others join Project Insight
ECB, EBA and Eiopa publish data point model agreement
Framework aims to maintain and streamline methods of reporting supervisory data
Central Banking FinTech RegTech Global Awards 2023
Central Banking’s sixth annual FinTech RegTech Global Awards showcase the ground-breaking projects undertaken within the central banking community
A suptech transformation: using tech to support the full supervisory lifecycle
Regnology explores how – with the appropriate platforms, partners and processes in place – supervisory technology can be utilised as a driver of transformation.