RBI Deputy Governor sounds alarm on AI: ‘Unchecked AI could endanger your money’

RBI Deputy Governor T Rabi Sankar highlighted AI’s dual role in finance, praising its efficiency and inclusion while warning of risks like bias and market volatility. He urged “safety by design” with trust, ethics, and training as key pillars. The RBI is already using AI for fraud detection, aiming to harness its power responsibly for financial stability and innovation.