December 20, 2024

Singapore’s AI Model Risk Management Paper: Key Insights for Financial Institutions

In this article:

Singapore’s AI Model Risk Management Paper: Key Insights for Financial Institutions
On 5 December 2024, the Monetary Authority of Singapore (“MAS”) released the Artificial Intelligence Model Risk Management Paper (“AI MRM Paper”), which may be accessed here.
The paper outlines the best practices carried out by banks and offers guidance to financial institutions (“FIs”) on managing AI-related risks, particularly in light of the growing adoption of Generative AI (“Gen AI”).

Singapore’s AI Model Risk Management Paper: Key Insights for Financial Institutions : Clyde & Co

RegulatingAI, a non-profit organization, is dedicated to establishing a platform for grassroots advocacy concerning artificial intelligence (AI) regulation. We serve as a bridge connecting AI experts, researchers, corporations, NGOs, academicians, students, and enthusiasts. RegulatingAI is committed to harnessing the power of shared knowledge to construct a responsible and ethical AI ecosystem.

info@regulatingai.org

+1 703-495-2069