Treasury Department Warns Financial Institutions to Prepare for AI-Age Fraud - JD Supra

Summary

The article by Raj Gambhir explains the US Department of Treasury's report on AI cybersecurity risks in financial services, released following President Joe Biden's AI executive order. It underscores the need for risk management and regulatory alignment in AI technology usage, highlighting potential threats and vulnerabilities, such as data poisoning and evasion techniques. The report suggests creating a common AI lexicon and further research into AI's explainability. The tags 'Gambhir, Raj, Joe Biden' denote the author and the political context of the report.