South Korea Takes Lead in Global Financial AI Standards Discussions

South Korea is set to lead the charge in financial AI. The Financial Artificial Intelligence (AI) Advisory Group (AG 6) under ISO Technical Committee (TC 68) for Financial Services is the first AI-dedicated body under TC 68. Yoon Hye-young, a senior researcher at the KFTC, was elected as convenor through a member state vote, the KFTC announced on the 6th.

The advisory group includes experts from 12 major countries such as South Korea, the United States, China, the United Kingdom, Germany, France, Russia, Canada, and Japan, as well as global related organizations and non-governmental organizations (NGOs).

AG 6 will be responsible for advising on AI standardization strategies in the financial services sector, proposing standardization items, and collaborating with the ISO/IEC Joint Technical Committee 1/Subcommittee 42 (JTC1/SC 42) on AI.

The KFTC announced that it will host the AG 6 virtual international meeting on the 14th.