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By Arnd HEßELER, Rolf HOLZAPFEL Chiara MAZZIOTTA, zeb consulting*
The purpose of the BaFin (German Federal Financial Supervisory Authority) publication is to inform financial institutions early on about the preliminary considerations surrounding possible minimum requirements for the use of AI. It is important to emphasize the preliminary nature of the paper, which has not yet been adopted as law, but provides extensive insights into BaFin’s way of thinking about AI. It can therefore serve as a roadmap.
BaFin has divided its comments into three sections:
1. Key principles
2. Specific principles for the development phase
3. Specific principles for the application phase
This...
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