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The Basel Committee’s report ‘Digitalisation of finance’ of May 2024 states that generative AI models are complex and opaque, which can make their outcomes harder to explain, and that lack of explainability makes it difficult to assess the conceptual soundness of an AI/ML approach. 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 Describes model-risk concerns; it also reports that some banks use ML models with ‘a good balance between accuracy and explainability’ (PDF p. 11).
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 “these models are complex and opaque, relying on hundreds of billions of parameters which can make it more difficult to explain the model's outcomes.” Location in source PDF p. 26 (printed p. 22), Box 8 ‘Generative AI risks’, bullet ‘Explainability’
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 (24 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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Cite the original source Cite the original document, not Selekoa. Check these details against it.
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Source excerpt “A key concern with lack of explainability is the difficulty in assessing the conceptual soundness of an AI/ML approach” Location in source PDF p. 22 (printed p. 18), footnote 36
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 (19 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-u04-bcbs-2024-digitalisation