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The rush to AI in the financial sector risks more data breaches

Many firms don’t have proper governance to control their bots, according to new research

With the likes of M&S still reeling from cyber attacks, is finance’s growing appetite for AI opening the door to leaks?
With the likes of M&S still reeling from cyber attacks, is finance’s growing appetite for AI opening the door to leaks? Photo: Getty Images

Client data is being put at risk through poor oversight of AI tools, according to a new survey of general counsel.

Nine in ten firms use AI tools, but only 18% have implemented internal guidelines and policies for the technology, according to research commissioned by Legalfly, a compliance provider that works with banks, insurers and asset managers.

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