Reposting so that I can read later.
Here's another great #AI resource from the Australian Government . This report from the ASIC looks at #AI usage in Australian financial services. Findings: Use of AI 🔹The extent of AI use varied significantly but overall adoption is accelerating 🔹Most current use cases applied long-established, well-understood techniques. But there was a shift towards more complex and opaque techniques, including generative AI 🔹The way AI was used was mostly cautious Findings: Risk Management and Governance 🔹There were gaps in arrangements for managing some AI risks 🔹There were gaps in licensees’ assessments of AI risks 🔹AI governance arrangements varied widely. We identified weaknesses that create the potential for gaps as AI use accelerates 🔹The maturity of governance and risk management did not always align with the nature and scale of licensees’ AI use 🔹Many licensees relied heavily on third parties for their AI models, but not all had appropriate governance arrangements in place to manage risk Press Release: https://lnkd.in/eUfktpZ2 Report Source: https://lnkd.in/eHAR3tRp
