AI in the Vault: AI Act's Impact on Financial Regulation

This course explores the impact of the EU Artificial Intelligence Act (AI Act) on AI regulation within the banking and financial sectors. As a pioneering legislative framework, the AI Act introduces risk-based classifications and strict requirements for high-risk AI systems, aiming to ensure transparency, accountability, and fundamental rights protection. The course focuses on how the Act intersects with financial supervision, highlighting the roles of the AI Office and AI Board. Participants will examine regulatory challenges, including creditworthiness assessments and general-purpose AI applications, and discuss how adaptive governance can promote ethical AI use while supporting innovation and consumer protection in finance.