The initiative brings regulators and industry together to examine artificial intelligence in financial services.
The Financial Stability Oversight Council (FSOC) and the Treasury Department’s Artificial Intelligence Transformation Office (AITO) announced the AI Innovation Series, a public-private initiative focused on artificial intelligence use in financial services. The series will include roundtables with financial institutions, technology firms, regulators, and subject-matter experts to examine applications such as fraud detection, credit underwriting, cybersecurity, and operational risk management as adoption expands.
“Economic security – the condition of having secure and resilient domestic production capacity – is core to financial stability, and leadership in AI adoption is a crucial component of economic security,” said Treasury Secretary Scott Bessent. “We are optimizing regulation to support growth for both Main Street and Wall Street: moving from a posture focused on constraint toward one that recognizes failure to adopt productivity-enhancing technology as its own risk. The Treasury Department will continue evaluating regulatory frameworks and enforcement policies to enable the U.S. financial sector’s leadership in AI adoption while preserving national security and long-term economic resilience.”
Deputy Assistant Secretary for FSOC Christina Skinner and Chief AI Officer Paras Malik said the initiative will explore governance approaches, identify operational uses, and evaluate how supervisory practices may adapt as institutions incorporate AI into core systems.
As the Lord Leads, Pray with Us…
- For Treasury Secretary Bessent and U.S. Treasury officials as AI is integrated into financial systems.
- For Deputy Assistant Secretary Skinner and CAO Malik as they collaborated on the implementation of updated practices.
Sources: Department of the Treasury
