Given the growing trend of AI, there is a need to eliminate biases in algorithms: RBI Governor Shaktikanta Das

Given the growing trend of AI, there is a need to eliminate biases in algorithms: RBI Governor Shaktikanta Das


Reserve Bank of India Governor Shaktikanta Das. File

Reserve Bank of India Governor Shaktikanta Das. File | Photo credit: PTI

Reserve Bank of India Governor Shaktikanta Das on Friday stressed the need to eliminate biases in algorithms as the use of artificial intelligence (AI) and machine learning (ML) grows.

Delivering the inaugural address at the 18th Statistics Day Conference organised by RBI, he said that the use of statistics is steadily growing as a preferred tool for drawing conclusions across various fields and the discipline is moving beyond the collection of facts to focus more on interpretation and drawing conclusions taking into account the level of uncertainty.

The Reserve Bank of India (RBI) has ventured into AI/ML analytics across multiple sectors. As part of RBI's ambitious targets for RBI@100, Mr. Das said the central bank is aiming to develop state-of-the-art systems for high-frequency and real-time data monitoring and analysis.


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