US Treasury releases 2 new resources to guide AI use in financial services, a standardised AI Lexicon and AI Risk Management Framework to help FIs manage AI risks, enhance controls, and drive innovation

The Treasury introduces an Artificial Intelligence Lexicon and a Financial Services AI Risk Management Framework to establish shared terminology and support consistent, risk-based governance of AI across the financial sector. These tools aim to enhance cybersecurity, operational resilience and responsible innovation by helping institutions manage AI risks while supporting wider adoption of AI technologies in financial services…