Former Chairman of the China Securities Regulatory Commission, Xiao Gang: Strengthening the Governance of Financial AI Algorithms and Models. According to a report by Golden Finance, Xiao Gang, the former chairman of the China Securities Regulatory Commission, stated on December 22 at the 'AI + Finance' summit of the National Wealth Development Research Cooperation Platform that artificial intelligence is a 'double-edged sword.' On one hand, it leads a new round of technological and industrial revolutions, profoundly changing social production and life, and also fundamentally altering the forms and models of the financial industry. On the other hand, it has also created various risks and challenges. From the perspective of intelligent finance, Xiao Gang believes that artificial intelligence greatly enhances the ability of financial institutions to identify, warn, and control risks, but it does not disperse or eliminate financial risks. Therefore, the essence of intelligent finance remains finance, and it must adhere to the basic laws of finance. To strengthen the governance of financial AI algorithms and models, Xiao Gang believes that a governance framework for algorithm models should be established, with laws and regulations at the top level, and this framework should also include goals, organization, tasks, and ecology. (Golden Ten)
