Few banks formally evaluate GenAI human-in-the-loop controls
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Risk Benchmarking: G-Sibs and challengers use tools to test controls efficacy; others rely on judgement
This piece is part of a series benchmarking bank model risk management practices. Sign up for Risk Benchmarking emails here.
Only one in five banks use tools to formally monitor the effectiveness of the human-in-the-loop (HITL) controls they apply to generative AI or large language models (LLMs), Risk Benchmarking’s inaugural Model Risk Management study finds.
Four of the six global systemically
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