MAS partners with industry under Project MindForge to launch a practical AI Risk Management Toolkit, helping FIs turn principles into action and safely harness advanced AI while driving innovation

Developed under Project MindForge with a consortium of 24 financial institutions and industry partners, the toolkit provides practical guidance for managing risks across traditional AI, generative AI and emerging agentic systems, including an operational handbook and real-world case studies. MAS also plans to establish an industry workgroup to update the toolkit and promote knowledge-sharing, reinforcing supervisory expectations on governance, risk assessment and lifecycle controls to ensure responsible AI adoption in financial services…