On 17 October 2023, the Taiwan Financial Supervisory Commission (FSC) first published the “Core Principles and Relevant Promotion Policies for the Application of AI in the Financial Industry” (“Principles”) as part of the FSC’s efforts to assist financial institutions in effectively utilizing the advantages of AI, while at the same time managing risks, ensuring fairness, protecting consumer rights, maintaining system security, and achieving sustainable development. The Principles provide six core principles for application of AI…
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