FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland)
What is FINMA Guidance 08/2024 Governance and Risk Management When Using Artificial Intelligence (Switzerland)?
FINMA's expectations for Swiss financial institutions using AI: governance and accountabilities including outsourced AI, a complete risk-classified inventory under a broad definition of AI, data quality controls, testing and ongoing monitoring with drift detection and fallbacks, central documentation, explainability and independent review of model development. It comprises 7 controls organised across 1 domains, and applies in Switzerland.
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