Understanding robots and the governance of automated technology - Clayden Law Solicitors

Any new technology comes with both advantages and risks. Where AI in financial institutions is concerned many of the methods and skills used to counter the risks develop from already familiar safeguards. No technology should be adopted unless it comes thoroughly tested, everyone understands the outcomes to expect, and systems are constantly monitored to ensure that those outcomes are being delivered. That is not unique to AI, and in many cases will have been standard practice when adopting any new technology in the past. Similarly it should come as little surprise that where training is required it may be needed at all levels within an institution.