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League InfoSight: AI Usage Policy for Credit Unions

Cute Chihuahua or Blueberry Muffin? If you attended CONNECT 2023 back in June, you’ll remember the opening keynote speaker shared a photo like the one here and asked attendees to identify which images were dogs and which were blueberry muffins. It was a simple task for the audience, but as it turns out, it’s a lot more challenging for artificial intelligence.

muffins and dogs

So how can credit unions stay ahead of the game when it comes to AI? What are the risks? How can credit unions use AI in a safe way to build more efficiency and serve members more effectively.

League InfoSight has been working with a few credit unions to develop an Artificial Intelligence Usage Policy (4500) for CU PolicyPro. As credit unions further investigate their future with AI, they need to outline basic concepts for themselves. For example:

  • Who is responsible for overseeing the proper use of AI? 
  • What are some of the risk management and controls that need to be in place?
  • What are some of the acceptable and prohibited uses of AI?
  • Should there be mandatory training for staff?
  • Who has responsibility for third-party vendor management review and testing?
  • Who will audit the program and how will they audit?

This policy will continue to evolve, just like AI technology and how credit unions use AI. In the meantime, League InfoSight’s goal is to provide credit unions with a framework to start a healthy dialogue, make informed decisions and ultimately find a way to use AI in a way that safely aligns with the credit union’s strategic priorities.

League InfoSight and CU PolicyPro are free to credit unions affiliated with the MD|DC Credit Union Association. You can access both compliance tools here.

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