FILE PHOTO: A view of the London skyline shows the City of London financial district, seen from St Paul's Cathedral in London, Britain February 25, 2017. REUTERS/Neil Hall///File Photo
Regulators are beginning to teach robots who’s the boss.
After spending billions of dollars on cutting-edge artificial intelligence technologies, Europe’s banks and insurers face tougher scrutiny of the tools they use to help root out fraud, check borrowers’ creditworthiness and automate claims decisions. European Union rules starting this week will stress human oversight and consumer protection, which may hamper companies trying to build the tools of the future.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
