APRA and ASIC warn frontier AI awareness must turn to action
Both regulators told banks, insurers and super trustees to move past AI awareness to concrete controls: cyber fundamentals, third-party risk, board-level AI risk appetite, and tested response and recovery plans. Drawn from industry roundtables with the RBA, Treasury and ASD.
What it means for business
Consider having the board set and document an explicit AI risk appetite and testing incident response plans for AI-enabled attacks.
What does this mean for your business?
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