RBI Report on Use of AI in Banks [PDF]

The Reserve Bank of India (RBI) has released its report on use of Artificial Intelligence in the Financial Sector. A Committee was constituted to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. The Committee has approached its work with an open mind and has taken a holistic view of the opportunities and risks. The framework is anchored in seven sutras which serve as the foundational principles and is operationalised through twenty-six targeted recommendations under six strategic pillars. Together, they offer a forward-looking blueprint for all stakeholders.

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