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Banks must be ‘responsible’ as industry races to deploy AI agents: State Street
State Street says banks must deploy AI responsibly as the industry rushes to adopt AI agents, citing security risks.
Key points
- State Street expects uses of artificial intelligence in finance to 'multiply' in the coming years.
- State Street stressed that 'responsible deployment' is vital as the industry confronts daunting potential security risks.
- The remarks came on the first day of the Global Financial Leaders' Investment Summit in Hong Kong.
Why it matters. The warning highlights potential security risks that banks face as AI use in finance is expected to multiply.
US bank State Street said on the first day of the Global Financial Leaders' Investment Summit in Hong Kong that artificial intelligence uses in finance are expected to 'multiply' in the coming years. It stressed that 'responsible deployment' is vital as the industry confronts daunting potential security risks. Executives from leading firms including Goldman Sachs and Morgan Stanley were among those at the summit.
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Banks must be ‘responsible’ as industry races to deploy AI agents: State Street
US bank State Street expects the uses of artificial intelligence in finance to “multiply” in the coming years, but stressed that “responsible deployment” is vital as the industry confronts daunting potential security risks. The call came on the first day of the Global Financial Leaders’ Investment Summit in Hong Kong, where executives from leading firms including Goldman Sachs, Morgan Stanley, JPM.