Question

    What is the main aim of the RBI’s newly formed

    committee on Artificial Intelligence (AI) in the financial sector?
    A To regulate the pricing of AI-based financial products Correct Answer Incorrect Answer
    B To create a framework for ethical AI usage in financial services Correct Answer Incorrect Answer
    C To monitor AI adoption in global financial markets Correct Answer Incorrect Answer
    D To develop new AI-based financial products Correct Answer Incorrect Answer
    E To impose taxes on AI-driven financial companies Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India set up a committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector, with the aim of ensuring ethical AI usage and assessing its current adoption.

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