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ARTICLE · 15 JULY 2025

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Balancing Innovation And Risk: OSFI's Principles For Responsible AI In Finance

McMillan LLP
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The Office of the Superintendent of Financial Institutions ("OSFI"), in collaboration with the Global Risk Institute ("GRI"), recently convened the second Financial Industry Forum on Artificial Intelligence ("FIFAI II").

CanadaFinance and Banking
Darcy Ammerman
Darcy Ammerman
Jerry Zi Yi Huang
Jerry Zi Yi Huang
Mathurhaen Siri
Mathurhaen Siri
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The Office of the Superintendent of Financial Institutions ("OSFI"), in collaboration with the Global Risk Institute ("GRI"), recently convened the second Financial Industry Forum on Artificial Intelligence ("FIFAI II"). This forum brought together leaders from the financial sector, government, and academia to further explore the risks, opportunities, and oversight considerations posed by artificial intelligence ("AI") in Canada's financial system. The event builds on previous discussions and research, including OSFI's AI and Quantum Questionnaire conducted in December 2023 and the joint AI Risk Report with the Financial Consumer Agency of Canada ("FCAC") released in September 2024.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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