MAS proposes framework on safeguards for AI agents in financial services

AI agents used in financial services such as wealth management and client engagement could soon be subject to more safety checks before carrying out a task. These agents are often used to review documents, generate structured assessments and to create more personalised insights for customers. CNA speaks to Associate Professor of Accounting, Kelvin Law, from NTU's Nanyang Business School. He discusses when consumers could see AI agents carrying out financial transactions at scale, what could stop an AI agent from making a bad payment or acting outside a customer's instructions, and what formal regulations could look like.