RBI committee recommends AI framework for finance sector

A Reserve Bank of India committee has recommended a framework for developing AI capabilities for the country’s financial sector, while safeguarding it against associated risks, according to a report released on Wednesday.

The committee has recommended setting up a digital infrastructure to help build indigenous AI models and a multi-stakeholder standing committee to evaluate risks and opportunities.

It also suggested building a fund to incentivise the development of homegrown AI models tailored for the needs of India’s financial services sector.

“The…