Reported 10 months ago
According to a report released by the Financial Supervisory Commission on June 20, 2024, 108 financial institutions in Taiwan have utilized AI, with 29 of them employing generative AI systems. The Commission announced the immediate implementation of the 'Guidelines for the Use of AI in the Financial Industry,' with each financial industry association expected to establish self-regulatory norms based on these guidelines. The directive emphasizes the need for accountability, emergency shutdown mechanisms, and minimal data collection when training AI using customer information. The guidelines are intended to assist financial institutions in responsibly using AI, with potential penalties for violations in the future.
Source: YAHOO