For the next 10 years, the main technological
Posted: Thu Jan 23, 2025 6:41 am
The Central Bank may begin to regulate the use of artificial intelligence (AI) by the financial sector. By the end of the year, the Bank of Russia plans to issue an advisory report on this matter, and during 2024, discuss it with market participants and develop approaches. This was stated by the First Deputy Chairman of the Central Bank Olga Skorobogatova at a conference in honor of the 10th anniversary of the mega-regulator. She emphasized that the Central Bank is primarily concerned about the security of customer data and transactions. It is not yet clear what the regulation format will be, but market participants are unanimous in the opinion that it may primarily affect generative AI - in particular, so-called digital assistants.
Rabbit, run!
trend in the financial market, the el salvador whatsapp resource participants of the session at the conference unanimously stated, will be artificial intelligence. Accordingly, the question of its regulation also arises. This will become a new challenge for the mega-regulator for the next decade, noted the Chairman of the Supervisory Board of the Moscow Exchange Sergey Shvetsov.
In his opinion, this period will be a time for building mechanisms (including regulatory ones) for interaction with artificial intelligence.
“If we are now worried about cybersecurity, then in the next 10 years we will be worried about how controllable AI is, whether the uprising of machines will turn us into guinea pigs,” says Sergey Shvetsov.
The Central Bank does not object. As Olga Skorobogatova reported, the issue of regulating AI is one of the key tasks for the foreseeable future. However, the Central Bank does not intend to rush this issue. According to the First Deputy Chairman of the Central Bank, an advisory report is planned to be released by the end of the year. This is being done to discuss with market participants in which areas they plan to use artificial intelligence, what risks and business cases they see in the future, she specified.
"Right now we see only the tip of the iceberg in terms of risks. It is not very clear where artificial intelligence can be used, and where we ourselves do not want it to be used. We will discuss these issues together with market participants, what approaches there should be, and first of all from the point of view of security (data and operations. - Izvestia) of the client," she emphasized.
"The issue of trust in avatars, digital assistants, robots - you can call them by different names - is key," added the First Deputy Chairperson of the Central Bank.
"If a person does not trust, then they will not use them. Only the regulator together with the financial market participants can ensure this trust," Olga Skorobogatova is sure.
Based on feedback, the Central Bank intends to develop approaches to regulating AI by the end of next year.
Rabbit, run!
trend in the financial market, the el salvador whatsapp resource participants of the session at the conference unanimously stated, will be artificial intelligence. Accordingly, the question of its regulation also arises. This will become a new challenge for the mega-regulator for the next decade, noted the Chairman of the Supervisory Board of the Moscow Exchange Sergey Shvetsov.
In his opinion, this period will be a time for building mechanisms (including regulatory ones) for interaction with artificial intelligence.
“If we are now worried about cybersecurity, then in the next 10 years we will be worried about how controllable AI is, whether the uprising of machines will turn us into guinea pigs,” says Sergey Shvetsov.
The Central Bank does not object. As Olga Skorobogatova reported, the issue of regulating AI is one of the key tasks for the foreseeable future. However, the Central Bank does not intend to rush this issue. According to the First Deputy Chairman of the Central Bank, an advisory report is planned to be released by the end of the year. This is being done to discuss with market participants in which areas they plan to use artificial intelligence, what risks and business cases they see in the future, she specified.
"Right now we see only the tip of the iceberg in terms of risks. It is not very clear where artificial intelligence can be used, and where we ourselves do not want it to be used. We will discuss these issues together with market participants, what approaches there should be, and first of all from the point of view of security (data and operations. - Izvestia) of the client," she emphasized.
"The issue of trust in avatars, digital assistants, robots - you can call them by different names - is key," added the First Deputy Chairperson of the Central Bank.
"If a person does not trust, then they will not use them. Only the regulator together with the financial market participants can ensure this trust," Olga Skorobogatova is sure.
Based on feedback, the Central Bank intends to develop approaches to regulating AI by the end of next year.