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

Sudhanshu Bahadur and Kuno Tucker
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Sudhanshu Bahadur: Head of Technology for Global Asset Management, BMO Financial Group, Canada
Kuno Tucker: Chief Compliance Officer at Manulife Wealth and Adjunct Professor, Corporate Governance, York University, Canada

Journal of Financial Compliance, 2024, vol. 8, issue 2, 112-130

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.

Keywords: artificial intelligence; compliance; regulations; risk management; controls; GenAI; LLMs (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2024:v:8:i:2:p:112-130

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