Technology is neutral, governance is not: AI adoption in the banking sector
Speech by Pedro Machado, ECB representative to the Supervisory Board (the page prints “ECB representative to the the Supervisory Board”). A speech or remarks are the speaker’s, not the European Central Bank (Banking Supervision)’s policy unless its own text says so. Dated 2026-02-24. Occasion: KPMG RiskTech Conference, Frankfurt am Main.
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- Technology is neutral, governance is not: AI adoption in the banking sector European Central Bank (Banking Supervision) · published 2026-02-24 · Retrieved for the candidate pack on 2026-11-02 (SHA-256 7e0543905f47e5c4bd221e85ac8edb51a0de667c1b7090dc5e8d4b070a1434f6). Retrieved again at admission on 2026-11-06 (SHA-256 554d6c6655777e392616f396791da62d369e09fa475beaaa3d81e52c4ee23c58; web pages are served with new markup on each request). HTML speech page on the ECB Banking Supervision site as served on 2026-11-02
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- AI and money: what central banks and financial authorities have said, 1997–2026 →3 records on this document
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- The opacity of AI models complicates risk management and supervisionIn a keynote speech of 24 February 2026, Pedro Machado, ECB representative to the Supervisory Board, said that if a bank cannot explain why an AI model behaves as it does in terms meaningful for decision-making, it cannot truly control that model.2026-02-24 · event · Stated in source · Supported Inspect claim & evidence ↗The opacity of AI models complicates risk management and supervision: propositions page →
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- Reliance on a few AI providers creates concentration riskIn a keynote speech of 24 February 2026, Pedro Machado, ECB representative to the Supervisory Board, said that generative AI systems are often sourced from a small number of major third-party providers and that this raises supervisory concerns about concentration risk, vendor lock-in, operational resilience and exit strategies.2026-02-24 · event · Stated in source · Supported Inspect claim & evidence ↗Reliance on a few AI providers creates concentration risk: propositions page →
- Existing financial rules broadly cover AIIn a keynote speech of 24 February 2026, Pedro Machado, ECB representative to the Supervisory Board, said that ECB Banking Supervision’s approach is technology-neutral but that AI introduces qualitative changes that cannot be addressed simply by expanding existing frameworks, which do not always fully cater to AI-specific challenges.2026-02-24 · event · Stated in source · Supported Inspect claim & evidence ↗Existing financial rules broadly cover AI: propositions page →
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