RBI’s FREE-AI framework will require governance structures, capacity building

The implementation of the Reserve Bank of India‘s (RBI) new FREE-AI framework will require significant investment, new governance structures, and sector-wide capacity building, experts said even as they added that it is a necessary step in safeguarding trust and accountability.

The framework, which calls for fairness, robustness, efficiency, and explainability in AI systems, is aimed at reshaping how banks and financial services deploy artificial intelligence.

From an implementation perspective, experts believe that cultural change is critical. Ajay…