OSFI’s approach to responsible AI adoption

OSFI supports responsible AI adoption

Principles-based

Adapts as technology evolves.

Risk-focused

Focused on existing and emerging risks.

Existing OSFI guidelines that apply to AI

• Corporate Governance Guideline
• Integrity and Security Guideline
• Guideline B-10: Third-Party Risk Management
• Guideline B-13: Technology and Cyber Risk Management
• Guideline E-21: Operational Risk Management and Resilience
• Guideline E-23: Model Risk Management

Complemented by the FSB sound practices for responsible AI adoption

OSFI endorses the Financial Stability Board's (FSB) sound practices for responsible adoption of AI. They complement our existing expectations.

Monitoring, research, and collaboration

Technology Risk bulletins

Highlight current and emerging technology risks.

FIFAI

The Financial Industry Forum on Artificial Intelligence (FIFAI) brings together experts to explore AI opportunities, risks, and responsible adoption.

Collaboration

Works with domestic and international partners on responsible AI adoption.