Reserve Bank of India reviews FREE-AI committee recommendations for finance
Business
The Reserve Bank of India (RBI) is taking a fresh look at how artificial intelligence gets used in the financial world.
They are reviewing the FREE-AI Committee's report and recommendations, which aim to help banks, insurance firms, NBFCs, and fintechs use AI for things like fraud detection and credit analytics, while making sure technology does not cross lines on data privacy or fairness.
India's Bharat Gen, New Delhi Declaration
This move fits into India's wider push to level up its AI game.
Last year saw the launch of Bharat Gen, a homegrown language model for public services.
Plus, the recent India AI Impact Summit led to the New Delhi Declaration, calling for safer and fairer access to AI worldwide.