Industry leaders and government officials will collaborate in a new AI oversight group.
The Department of the Treasury announced the Artificial Intelligence Executive Oversight Group (AIEOG), part of a major public-private initiative to strengthen “cyber security and risk management.” This initiative is one of six resources the Treasury Department has developed with industry, federal, and state regulatory partners to ensure secure AI use across the financial system.
Treasury Secretary Scott Bessent said, “It is imperative that the United States take the lead on developing innovative uses for artificial intelligence, and nowhere is that more important than in the financial sector. This work demonstrates that government and industry can come together to support secure AI adoption that increases the resilience of our financial system.”
AIEOG is comprised of senior executives from financial institutions and federal and state financial regulators, and participants will focus on “addressing identified gaps in the financial sector’s use of AI, developing practical tools that financial institutions can use to manage AI-specific cybersecurity risks while unleashing…
