IOSCO is consulting on the use of AI and machine learning by market intermediaries and asset managers. It has produced guidance for its members to help them supervise its use. IOSCO notes the key potential benefits of reduction of cost of services and increasing speed of execution, while noting the risks it may create or amplify. It is looking to ensure that firms have in place appropriate governance and control measures, train staff appropriately, have in place strong testing procedures and are properly transparent.
It asks for comments by 26 October.