OCC tells examiners AI isn’t a separate risk

The Office of the Comptroller of the Currency (OCC) told its bank examiners on Wednesday not to treat artificial intelligence as a distinct risk. The OCC has also issued what it called its first framework for supervising how large national banks use the technology. What did the OCC tell examiners to do? On Wednesday, the Office of the Comptroller of the Currency (OCC) told examiners to treat AI as part of the risks a bank already faces instead of setting up a new category just for the technology. Banks also do not have to set a separate risk limit for it. The OCC said that examiners are to conduct their reviews depending on how a bank uses AI, how big it is, and how complex it is.

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