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Identifying and addressing the risks of AI through regulations, compliance controls and technical design

Author

Listed:
  • Bahadur, Sudhanshu

    (Head of Technology for Global Asset Management, BMO Financial Group, Canada)

  • Tucker, Kuno

    (Chief Compliance Officer at Manulife Wealth and Adjunct Professor, Corporate Governance, York University, Canada)

Abstract

This paper will identify and examine the various aspects of artificial intelligence (AI), surface the risks associated with AI, and provide compelling governance, compliance and technical solutions to mitigate those risks. AI is destined to accelerate the pace of change and development in multiple fields; however, with its great advances come great risks that need to be addressed.

Suggested Citation

  • Bahadur, Sudhanshu & Tucker, Kuno, 2024. "Identifying and addressing the risks of AI through regulations, compliance controls and technical design," Journal of Financial Compliance, Henry Stewart Publications, vol. 8(2), pages 112-130, December.
    • Handle: RePEc:aza:jfc000:y:2024:v:8:i:2:p:112-130
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    More about this item

    Keywords

    artificial intelligence; compliance; regulations; risk management; controls; GenAI; LLMs;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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