Friday, 7 June, 2024

Banks Warn of Risks in Big Tech's AI Dependency

Financial institutions are expressing concerns over the increasing reliance on big tech companies for AI solutions, citing potential new risks. While big tech firms offer advanced AI capabilities, banks worry about data privacy, security, and potential monopolistic practices. This dependency underscores the need for robust regulations and frameworks to mitigate risks associated with integrating big tech AI solutions into banking operations.