AI risks ‘strikingly similar’ to financial ones – DNB official
Central banks entering new phase of risk management, says board member responsible for supervision
Risks related to artificial intelligence (AI) are “strikingly similar to traditional financial risks”, according to the executive board member at The Netherlands Bank (DNB) with responsibility for banking supervision.
In a speech in Amsterdam on September 16, Steven Maijoor said concentration risk, third party dependence and interconnectedness were among the similarities between AI-related hazards and the more traditional ones in the world of finance.
He said managing these risks was “not a simple
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