RBI Guv asks banks to build meaningful human oversight, not blame AI models for faulty decisionsRBI Governor Sanjay Malhotra urged banks to maintain meaningful human oversight while deploying artificial intelligence, stressing that accountability for AI-driven decisions must remain with banks. Addressing the annual Fibac event in the financial capital, Malhotra urged banks to use artificial intelligence tools to augment rather than merely replace human judgment to serve customers better. However, as the system adopts AI, there can be an erosion of human judgement and accountability over a period of time, Malhotra warned. “Meaningful human oversight, the ability to explain, to intervene, and where necessary to override, must remain a design principle and not an afterthought,” he added. The RBI should be knowing as to which are the models that are actually running in banks, Malhotra said, asking banks to maintain a complete inventory of those models.