MITRE to Treasury: Regulators should mandate data transparency for AI use

Financial institutions should have to share crucial details about the data that feeds their artificial intelligence systems in order to foster responsible innovation, the influential nonprofit consulting firm MITRE says in response to a Treasury Department inquiry on AI uses in the financial sector.

“Treasury and other financial regulators,” MITRE says, “should require financial institutions to implement disclosure requirements to provide transparency about how consumer data is collected, what data is collected, how AI systems are applied and used, and...