Moody's Emphasizes Compliance and Culture in Artificial Intelligence Processes for Banks
A new research by Moody's reveals that banks are incorporating compliance processes into the early stages of artificial intelligence projects.
According to recent data published by Moody's, banks need to integrate compliance, culture, and artificial intelligence governance in order to succeed in a competitive environment.
Artificial Intelligence and Compliance Processes
Compliance teams are expected to focus on governance frameworks, corporate culture, and explainability elements to help banks grow with artificial intelligence.
Research Results and Percentages
A new survey conducted by Moody's shows that the majority of banks integrate compliance processes right from the start of projects. According to the research results, the proportion of banks treating the compliance process merely as a final approval stage remains at 17 percent.