Finance
Australia\'s APRA warns bank AI use outpaces governance and security
Australia\'s prudential regulator APRA warned that banks and other financial firms are rapidly expanding their use of artificial intelligence while governance and security frameworks are failing to keep up. In a letter to the industry, APRA cited shortcomings in governance, risk management, assurance and operational resilience. It said advanced AI can create new financial and operational vulnerabilities and could increase cyber risks, while boards often lack technical understanding to oversee AI-related risks.
