Commercial Lenders Shouldering Heavier AI Burden than Central Banks: ICBC President

Commercial lenders facing heavier AI burden than central banks: ICBC president

As artificial intelligence reshapes the finance industry, commercial bankers are facing a “more miserable” transition than their central banking counterparts, the head of the world’s largest lender by assets said. Industrial and Commercial Bank of China president Liu Jun said that while central bankers focused on oversight and policy, commercial lenders bore direct financial and legal liability when deploying AI at scale. “If [ICBC] deploys AI t…

Commercial lenders shouldering heavier AI burden than central banks: ICBC president

As artificial intelligence reshapes the finance industry, commercial bankers are facing a “more miserable” transition than their central banking counterparts, the head of the world’s largest lender by assets said. Industrial and Commercial Bank of China president Liu Jun said that while central…