Question
The Reserve Bank ofIndia (RBI) has constituted an
eight-member committee named ‘FREEAI’ to develop a framework for responsible and ethical use of artificial intelligence in the financial sector. Who is appointed as the head of this committee?Solution
Pushpak Bhattacharyya, Professor at the Department of Computer Science and Engineering, IIT Bombay, has been appointed as the head of the FREE-AI Committee set up by the Reserve Bank of India (RBI). About the FREE-AI Committee • Full Form: Framework for Responsible and Ethical Enablement of Artificial Intelligence • Constituted by: Reserve Bank of India (RBI) • Purpose: To develop a framework for the responsible and ethical use of AIin the financial sector Mandate and Timeline • The committee will: o Study current AI adoption in financial services o Review global regulatory and supervisory approaches on AI in finance • It is expected to submit its report within six months from the date of its first meeting.
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