OCC Requests Research on AI in Banking and Finance

The Office of the Comptroller of the Currency ("OCC") solicited academic research on "the use of artificial intelligence in banking and finance." The OCC set a December 15, 2024 for submissions.

In a "Call for Papers," the OCC requested analysis on:

• potential bias and disparate impacts from the use of AI and machine learning ("ML") in lending;
• the regulatory landscape on AI/ML;
• the impacts of algorithmic underwriting and appraising;
• consumer financial behavior and decision-making;
• the potential risks that AI poses to financial stability;
• use of AI/ML for fraud detection, prevention and operational enhancement processes;
• the risks of AI/ML in perpetrating fraud, algorithmic bias and misinformation; and
• "developing trustworthy AI and alignment frameworks."

The OCC said it "will invite authors of selected papers to present to OCC staff and academic and government researchers at the OCC Headquarters in Washington, D.C., on June 6, 2025."