MILAN, May 29 – Italy’s central bank is working directly with international artificial intelligence technology companies as new AI systems prepare to enter the financial industry, according to Governor Fabio Panetta during his yearly address on Friday.
The coordination efforts focus on making sure emerging AI technologies are safely integrated when they become available for public use.
Italy’s central bank has recently begun conversations with domestic regulators, financial institutions and their technology service providers regarding this matter.
Financial institutions must maintain responsibility for protecting and maintaining their systems, and when they utilize external providers, those companies share the same obligations.
According to Panetta, addressing these challenges requires more than just technical solutions – it demands leadership from executive teams who must establish robust oversight and control systems.
