AI TRENDS | China Issues Guidance on AI Security Development and Use in Banking and Insurance

China’s National Financial Regulatory Administration has issued guidance on the secure development and application of artificial intelligence in the banking and insurance sectors, including calls to strengthen intelligent computing infrastructure. According to Odaily, the guidance says financial institutions should make full use of existing computing resources and, in line with relevant national policy requirements, build intelligent computing resources as needed. It also calls for the use of green and low-carbon technologies to build an independently controllable, secure, and efficient computing foundation. The guidance encourages eligible large financial institutions to provide computing services to small and medium-sized financial institutions and supports industry efforts to explore joint construction and shared use of infrastructure. It adds that, under safe and compliant conditions, financial institutions are supported in using national computing nodes or industry infrastructure to reduce the costs of AI research, development, and application, and to strengthen management of major information technology outsourcing related to intelligent computing resources.