Responsible AI in a Principle-Based Regulatory Era
Action Required: Financial advisors should review and update their internal policies and procedures to ensure accountability, governance, and risk management practices for AI adoption, covering supervisory, cybersecurity, and vendor risks.
Regulators are increasing their focus on accountability and governance as financial firms adopt AI, requiring advisors to address supervisory, cybersecurity, and vendor risks. This signals a need for financial advisors to develop robust frameworks for responsible AI implementation.
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