AI safety must keep pace with adoption in financial sector: CEA Anantha Nageswaran

India needs to be proactive on the safety and security of artificial intelligence (AI) in the financial sector as firms increasingly adopt the technology, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Friday. He cautioned that the sector may not have the luxury of waiting for risks to materialise before responding.Speaking at ASSOCHAM’s India International Fintech Festival, Nageswaran said AI could significantly improve the fintech industry by enabling firms to assess creditworthiness more accurately and identify risks and financial stress at an earlier stage. “Specifically speaking from the fintech perspective, of course AI is going to help various firms in the industry. Analyse the creditworthiness far better, flag risks and stress much earlier,” he said.