05.15.25

Strong Governance Key for Firms' AI Success: FINRA

by: Patrick Donachie

The biggest risk financial firms face when opting to use generative AI tools is the governance, or lack thereof, in overseeing their usage, according to staff at the Financial Industry Regulatory Authority (FINRA). During a panel on AI at FINRA’s annual conference, Andrew McElduff, vice president and head of retail risk monitoring, said firms are in danger if they poorly plan who will be responsible for AI projects, what their acceptable use policy is and which projects will be allowed and which banned.

Read the full article on WealthManagement.com