BoG develops AI rules for financial sector

10, GNA – The Bank of Ghana (BoG) is developing a directive to regulate the use of artificial intelligence (AI) in the financial sector, as it seeks to promote innovation while addressing emerging risks.

Dr Johnson Pandit Asiama, the Governor of the Bank of Ghana, said AI had the potential to improve credit assessment, fraud detection, customer service, risk management and operational efficiency in financial services.

The Governor said the Bank continued to work with the Ghana Association of Banks and industry players to facilitate the implementation of its revised Cyber and Information Security Directive.