ICBA called on the White House to harmonize the regulatory framework for artificial intelligence to address ambiguities inhibiting AI adoption.

ICBA told Congress it believes artificial intelligence has the potential to help community banks meet regulatory burdens and expand access to credit, but thoughtful regulation is needed to ensure that innovation does not come at the expense of consumer protection or financial stability.

Artificial intelligence is here to stay, whether it’s generative AI, part of your bank’s neural network or both. That’s why having an AI policy is important—but how you go about writing it depends on how you plan to use this technology.