Translation. Region: Russian Federal
Source: Central Bank of Russia –
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For example, customers should be informed when they are interacting with AI and provided with the opportunity to opt out of such interactions.
The Bank of Russia also suggests that organizations regularly check the quality of AI, pay attention to maintaining the confidentiality of personal data, and organize AI risk management.
“We have studied global trends in AI regulation, discussed with market participants and came to the conclusion that for the Russian financial market at this stage, soft regulation of the use of such technology will be relevant. We hope that the guidelines laid down in the Code of Ethics will be able to make financial services, in which artificial intelligence is integrated, even more high-quality, safe and convenient,” said Stanislav Korop, Head of the Department of Financial Technologies.
In addition, according to the Bank of Russia, the exchange of experience and best practices in compliance with ethical recommendations can play a special role in the trusted and responsible use of AI in the financial market. The regulator is ready to facilitate this.
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