WASHINGTON— In support of the President Trump’s AI Action Plan, Treasury has announced the conclusion of a what it said has been a major public-private initiative to strengthen cybersecurity and risk management for artificial intelligence (AI) in the financial services sector. Treasury said it will now release a series of six resources developed in partnership with industry and federal and state regulatory partners to enable secure and resilient AI across the U.S. financial system.
The Artificial Intelligence Executive Oversight Group (AIEOG), a partnership between the Financial and Banking Information Infrastructure Committee and the Financial Services Sector Coordinating Council, brought together senior executives from financial institutions, federal and state financial regulators, and other key stakeholders, according to Treasury.
The Focus
Together, participants focused on addressing identified gaps in the financial sector’s use of AI, developing practical tools that financial institutions can use to manage AI-specific cybersecurity risks while unleashing innovation, the department added.
Treasury will release the AIEOG deliverables in stages throughout this month.
“The AIEOG workstreams provide a foundation for the use of AI in financial services, addressing governance, data practices, transparency, fraud, and digital identity in an integrated way,” Treasury said. “By focusing on practical implementation rather than prescriptive requirements, the resources are intended to help financial institutions adopt AI more confidently and securely, strengthening resilience and cybersecurity while supporting innovation across the sector.”
