RBI has formed 8-member committee to develop a framework for the ethical use of AI.
To develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector, RBI has constituted an eight-member committee.
The committee will be headed by Dr. Pushpak Bhattacharyya. He is serving as a Professor in the Department of Computer Science and Engineering at IIT Bombay.
The committee will assess the current level of adoption of AI in financial services in India and at the global level.
This committee will also identify potential risks associated with AI.
This committee will also give recommendations on evaluation, mitigation, and monitoring framework.
