Handbook on Generative AI Guardrails in Banking

This document is a Handbook on Generative AI Guardrails in Banking, developed by the Association of Banks in Singapore (ABS) Standing Committee on Data Management (SCDM). It outlines a framework for financial institutions to responsibly adopt Generative AI (Gen AI) technologies while managing associated risks. The Handbook identifies common use cases for Gen AI in banking, such as coding, speech-to-text, and document translation, and details the potential risks involved, including algorithmic bias and data privacy concerns. It emphasizes the importance of governance, technical controls, and human oversight in the implementation of Gen AI. The document also provides practical considerations and examples of guardrails that can be applied to various Gen AI applications. It aims to support the financial sector in harnessing the benefits of Gen AI while ensuring compliance with regulatory standards and maintaining trust within the industry. The Handbook is intended to evolve alongside advancements in Gen AI and its associated challenges.