In brief
The Bangko Sentral ng Pilipinas (BSP) has issued Memorandum No. M-2026-031, introducing governance principles for the use of artificial intelligence in the financial sector. The guidance sets out supervisory expectations to help BSP-supervised financial institutions develop AI governance and risk management frameworks proportionate to their operations. It emphasizes ethical, transparent, and accountable AI adoption while addressing risks such as bias, data privacy, and misuse. The principles are voluntary but are intended to guide institutions in aligning AI use with existing regulatory frameworks.
For a detailed analysis of BSP Memorandum No. M-2026-031, read the full alert on quisumbingtorres.com
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