Position paper AI Act
A risk-based approach to Artificial Intelligence
February 15 2023
Artificial Intelligence (AI) and Machine Learning (ML) are vital for the future of the banking industry to overcome the various challenges of the digital age and the additional (cyber-) risks arising from it. Implementing AI and ML in the highly regulated banking industry is complex. Here, a risk-based approach helps balancing the benefits of this technology against the regulatory hurdles surrounding.
This position paper shall summarize the most important aspects of the AI Act from the banking perspective. For further details please refer to Commerzbank’s white paper which outlines Commerzbank’s risk-based approach to ML governance and aims to demystify AI and ML for what it really is: controllable and non-magical!
