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Finally , banking leaders also worry about GenAI governance and regulation . Only 6 % of those surveyed said their current governance framework is ‘ wellestablished .’ Most ( 58 %) indicated that their frameworks are ‘ in development ’ – but more than a third viewed theirs as either ‘ ad hoc or informal ’ ( 27 %) or ‘ non-existent ’ ( 9 %). The biggest hurdles to implementing effective governance and monitoring ? Almost one-third ( 30 %) cited technological limitations . Another 30 % pointed to a lack of transparency and accountability , a number that ’ s slightly higher than other industries .
“ GenAI is changing the world of banking in ways that were previously unimaginable – and at astonishing speed ,” said Kwiatkowski . “ There is no shortcutting AI governance in banking or any industry . Trustworthy AI requires a foundation of human centricity , and it must embody the other core tenets of responsible innovation – inclusivity , transparency and accountability among them .”
To explore additional findings from SAS ’ global GenAI study , download the banking report at SAS . com / genai-banking � www . intelligentfin . tech
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