Australia: AISC inquiry into AI governance in financial services
Progress
Current status
concluded
29 Oct 2024 concluded
Scope
Implementers
Australia
Policy Area
Design and testing standards
Policy Instrument
Performance monitoring requirement
Regulated Economic Activity
ML and AI development
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Issued AISC report concerning AI governance in financial services
On 29 October 2024, the Australian Securities and Investments Commission (ASIC) adopted a report noting the importance of updating governance frameworks in line with the rapid adoption of artificial intelligence (AI) by financial services and credit…
SourceEvent type
inquiry
Action type
closure
Government branch
executive
Government body
other regulatory body