At the American Bankers Association headquarters in Washington, D.C., representatives from the banking industry and the Treasury Department convened to unveil the latest phase of their joint efforts to tackle fraud and cybersecurity risks stemming from artificial intelligence in the financial sector.
In March, the Financial Services Sector Coordinating Council issued a set of guidelines for the industry regarding AI within the framework of a broader Treasury report addressing cybersecurity risks associated with AI in financial sector. The partnership will continue with monthly gatherings where participants will explore strategies for harnessing AI's potential in finance and bridging the capability disparities between large and small institutions. Read ABA’s news story on the meeting held at their headquarters here.