FSB says fold AI into the risk frameworks you already have
The Financial Stability Board published its final sound practices for AI today, and the line I'd underline tells institutions to integrate the 12 practices into existing frameworks, including cyber and third-party risk. That's the right call. In the privacy and governance programs I've run, trouble rarely came from a missing policy. It came from a shiny new AI committee running beside third-party risk and cyber, with nobody owning the handoffs between them. Plenty of AI walks into a bank through a vendor contract anyway. If your AI review and your vendor review still use separate intake forms, which one catches the quiet model update?
Source: FSB finalises sound practices for the responsible adoption of artificial intelligence (AI) - Financial Stability Board (Financial Stability Board)