Managing Artificial Intelligence: The Monetary Authority of Singapore’s Recommendations on AI Model Risk Management

Introduction and Background – On 5 December 2024, as part of the Monetary Authority of Singapore’s (MAS) incremental efforts to ensure responsible use of artificial intelligence (AI) in Singapore’s financial sector, MAS published recommendations on AI model risk management in an information paper following a review of AI-related practices of selected banks….
By: K&L Gates LLP