Government to Support the Healthy Expansion of AI Use in the Financial Sector
Over 250 Financial Company AI Executives and Others Attend
On the 17th, the Financial Supervisory Service (FSS) announced that it held a seminar on the 15th titled "Seminar for the Activation of AI Utilization in the Financial Sector," attended by about 250 executives in charge of artificial intelligence (AI) at financial companies.
This seminar was organized to create a sound environment for AI utilization in the financial sector. It introduced the government's AI policy directions to the financial sector and discussed ways to promote AI utilization and ensure accountability with experts from academia, industry, and the financial sector.
Kim Byung-chil, Deputy Director of the FSS, evaluated that "As AI rapidly penetrates our daily lives, competition among countries to secure AI supremacy is intensifying," and added, "We will explore ways to fuse and utilize high-quality data from financial data and various industries to enhance the financial sector's AI competitiveness."
Deputy Director Kim also stated that by strengthening communication with experts from industry, academia, and research institutes, they will identify and improve factors hindering AI innovation and carefully review supervisory measures for risk factors such as information leakage that may occur when using AI.
In the session titled 'Government AI Policy Directions and Changes in Domestic and International Industrial Environments,' Lee Eun-gyu, Head of the AI Diffusion Team at the Ministry of Science and ICT, the main government agency for AI policy, took the stage. Lee introduced the 2024 AI policy directions, including AI becoming part of daily life, and shared with the financial sector the key contents of the AI Act currently being prepared to balance AI development and reliability assurance, as well as future institutional improvement tasks. Lee stated, "Through Q&A with the financial sector, we will collect field opinions related to AI policy and promote the activation of the AI industry by resolving regulatory uncertainties."
Following this, Lee Hwa-young, Executive Director at LG AI Research Institute, predicted that generative AI, which understands various input forms (multimodal AI) and autonomously collects and processes data (actionable AI), will contribute to productivity by enabling tasks requiring expertise. Lee especially forecasted that the use of on-premise-based generative AI systems, which have advantages in data security compared to cloud-based large language models, will become very important.
In the session 'Sound AI Utilization Measures and Sharing of AI Use Cases in the Financial Sector,' Professor Kwon Tae-kyung of Yonsei University introduced the technical characteristics of large language models (LLMs) domestically and internationally and the AI operation method centered on data flow. Professor Kwon diagnosed the seven major security threats and causes of large language models, including misuse of language models and plugin vulnerabilities, and proposed safe utilization measures for generative AI through strengthened access account security and proper use of language model extension programs.
At the panel discussion, Cho Young-seo, Vice President of KB Financial Group, shared experiences in building AI governance based on generative AI technology verification cases and introduced risk management policies and control process establishment directions such as KB's ethical standards and AI risk classification criteria for safe AI utilization.
Next, Ahn Sung-hee, Executive Director at Shinhan Card, introduced the operation status of over 170 AI models across nine fields and plans for AI transformation promotion. Kim Sung-soo, Executive Director at Kyobo Life Insurance, introduced various AI utilization services such as KyoboGPT and chatbots conducted as pilots and explained future plans.
The FSS plans to actively communicate and cooperate with academia, industry, and global financial supervisory organizations so that AI can become a catalyst for financial innovation. It intends to establish reasonable regulatory measures to activate AI utilization in the financial sector based on safety and reliability.
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