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RBI raises concerns over potential cybersecurity risks posed by AI in finance sector

IndianStartupNewsIndianStartupNews · 8m
RBI raises concerns over potential cybersecurity risks posed by AI in finance sector

The Governor of the Reserve Bank of India, Shaktikanta Das, has expressed concerns about the cybersecurity risks associated with the adoption of artificial intelligence (AI) in the financial sector. He highlighted the potential for increased cyber threats, including identity theft and fraud, and stressed the need for financial institutions to prioritize customer information protection. Furthermore, Das emphasized the importance of leveraging technology, including data analytics and behavioral analysis, to detect and prevent fraud. He also encouraged the use of data analytics in enhancing customer service and emphasized the need for an efficient grievance redressal mechanism.

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