Accountable AI
However, getting the group’s 11,500 members to really feel comfy with all this may’t have been straightforward. That’s why Swift beforehand introduced an AI governance framework that emphasizes explainability, accuracy, and auditability, in compliance with ISO 42001, the NIST AI Threat Administration Framework, and the EU AI Act.
“AI has nice potential to considerably scale back fraud within the monetary business. That’s an extremely thrilling prospect, however one that may require sturdy collaboration,” commented Swift’s chief innovation officer, Tom Zschach.
“Swift has a singular capability to carry monetary organizations collectively to harness the advantages of AI within the pursuits of the business, and we’re excited by the potential of each of those pilots to assist additional strengthen the cross-border funds ecosystem,” he stated.
