Bank Regulators Look to Existing Tools to Police AI Advances

Bank Regulators Look to Existing Tools to Police AI Advances

July 10, 2023, Bloomberg Law

Nikhil Gore's commentary appeared in a Bloomberg Law article about bank regulators looking at uses of new AI technologies in areas that fall under their jurisdictions.

Nikhil discusses how is anti-money laundering (AML) compliance and AI is ripe for regulatory clarify. According to Nikhil, "FinCEN still needs to provide standards for testing anti-money laundering compliance models." “If you’re running parallel models over real data, each model might find different things. Does that mean one model is better than another?" Nikhil stated.