Treasury Releases Two New Resources to Guide AI Use in the Financial Sector

WASHINGTON— In support of the President’s AI Action Plan, which calls for clear standards, shared understanding, and risk-based governance to ensure artificial intelligence is deployed safely and responsibly, the U.S. Department of the Treasury today released two new resources to guide AI use in the financial sector, a shared Artificial Intelligence Lexicon and the Financial Services AI Risk Management Framework (FS AI RMF). “Implementing the President’s AI Action Plan requires more than aspirational statements, it requires practical resources that institutions can use,” said Derek Theurer, who is performing the duties of Deputy Secretary of the Treasury. “By establishing a common language for AI and a tailored framework for managing AI risks in financial services, these deliverables help protect consumers while supporting responsible innovation.”By strengthening common terminology and risk management practices for AI, these resources support quicker and more widespread adoption of AI in the financial sector, via more robust AI cybersecurity and improved operational resilience.