Cœuré warns of ‘black box’ problem for regulators
It “may be no coincidence” banks are turning to opaque AI for “capital optimisation”, BIS official says
The growing use of opaque artificial intelligence (AI)-driven methods by banks is creating a problem for regulators, Benoît Cœuré said today (August 19).
The head of the Bank for International Settlements’ innovation hub said a well-known problem in AI was that it could be difficult for a human to understand how an AI model arrived at its conclusions – often called the “black box” problem.
Cœuré drew a parallel to the global financial crisis, when the “complexity and opacity of internal models
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