AI Governance encompasses the frameworks, policies, and practices designed to ensure the ethical and responsible development, deployment, and oversight of artificial intelligence technologies. It addresses issues such as accountability, transparency, fairness, and the societal impact of AI systems.
Community banks increasingly rely on third-party vendors for AI-driven solutions, making it essential to evaluate those vendors’ AI practices holistically. The following framework provides a structured approach to assess vendors’ use of AI across key risk domains using a standardized questionnaire, weighted scoring, and automated recommendations. It delivers immediate insights (via scoring and visuals) while allowing deeper analysis of specific risk areas as needed.
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