The Australian Securities and Investments Commission (ASIC) says that while business enthusiasm for artificial intelligence is high, many questions about practical use of the technology still need answering. ASIC chair Joe Longo said that while parts of the finance sector, in particular, had been “early adopters of new technology” to drive efficiency, advances such as generative AI posed risks that are yet to be addressed.
ASIC is particularly monitoring for evidence of “fear of being ‘left behind’”, which Longo said could create unintended consequences as users of the technology “may rush too quickly into innovations without applying appropriate controls and proper governance”.
Originally published by: https://www.itnews.com.au/news/asic-calls-for-generative-ai-clarity-597105
Clarity Software
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Safran Risk Management Software
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