South Korean monetary corporations will quickly be permitted to make use of generative synthetic intelligence (AI) and cloud-based software program to develop “new innovative products,” in accordance with a press release launched on Tuesday.
Since 2013, South Korean monetary establishments have been required to maintain their networks remoted from the web to forestall hacking makes an attempt, as famous by the Korean Financial Services Commission (FSC).
However, this community separation “may not only cause inconvenience but also hinder the competitiveness of the financial industry,” the FSC press launch said.
To tackle this situation, the FSC has introduced a regulatory exemption permitting monetary corporations to entry the web, offered they implement sufficient safety measures to mitigate cybersecurity dangers.
The choice displays the necessity to replace community separation guidelines to raised align with the quickly evolving IT setting, significantly regarding cloud computing and generative AI, stated FSC chief Kim Byoung-hwan in a gathering with related companies and business leaders.
The FSC indicated that monetary corporations might start using AI and cloud computing by the tip of the 12 months on the earliest.
Source: www.anews.com.tr