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The Basel Committee’s report ‘Digitalisation of finance’ of May 2024 states that concentration risks may arise from foundation AI models and from third parties such as cloud service providers and AI model developers, and that broad adoption of generative AI may lead to greater third-party concentration risks. Copy claim link
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Supporting evidence: primary · 1 source
Date 2024-05 · publication Records dated 2024 → Role Articulation Register (kind of text) Nonfiction Scope and limits A Basel Committee report describing possible risks; it does not report that a provider failure has occurred or set new requirements.
The evidence 02 primary source Supports the claim
Digitalisation of finance ↗ Basel Committee on Banking Supervision (Bank for International Settlements) · 2024-05
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Source excerpt “concentration risks may arise in the form of market infrastructure (eg the Ethereum blockchain), models (eg foundation AI models) or third parties (eg cloud service providers and AI model developers).” Location in source PDF p. 25 (printed p. 21), section 4, bullet ‘Concentration risks’
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Basel Committee on Banking Supervision Version Retrieved for the candidate pack on 2026-11-02 (SHA-256 e9858665f0859ef0380fcd817df114090fcd361a73db4b3bd0a276886f6d0fff). Retrieved again at admission on 2026-11-06 (same file). PDF as served on 2026-11-02 (requested at https://www.bis.org/bcbs/publ/d575.pdf, redirected to the landing page whose PDF link is the address given) Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Basel Committee on Banking Supervision, “Digitalisation of finance”, 2024-05. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (30 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Supports the claim
Digitalisation of finance ↗ Basel Committee on Banking Supervision (Bank for International Settlements) · 2024-05
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Source excerpt “greater third-party concentration risks, particularly where the model vendors are also providing cloud services to banks.” Location in source PDF p. 26 (printed p. 22), Box 8 ‘Generative AI risks’, closing paragraph
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Basel Committee on Banking Supervision Version Retrieved for the candidate pack on 2026-11-02 (SHA-256 e9858665f0859ef0380fcd817df114090fcd361a73db4b3bd0a276886f6d0fff). Retrieved again at admission on 2026-11-06 (same file). PDF as served on 2026-11-02 (requested at https://www.bis.org/bcbs/publ/d575.pdf, redirected to the landing page whose PDF link is the address given) Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Basel Committee on Banking Supervision, “Digitalisation of finance”, 2024-05. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (16 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. Status and meaning Editorial status. Machine-checked . Machines found this record and checked it against its sources; no person accepted it individually. Each evidence record above shows how it was checked.
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Record ID am-u02-bcbs-2024-digitalisation