The Regulatory Framework for the Use of Artificial Intelligence in the Jordanian Banking Sector

The document "The Regulatory Framework for the Use of Artificial Intelligence in the Jordanian Banking Sector" outlines a strategic framework aimed at integrating artificial intelligence (AI) within Jordan's banking industry. The primary goals include establishing governance structures, ensuring ethical practices, and enhancing compliance with local and international regulations. Key policy areas addressed are governance, ethics, compliance, data management, and security. The framework emphasizes the importance of transparency, accountability, and risk management in AI applications, aiming to mitigate potential risks associated with AI deployment. Additionally, it highlights the need for continuous improvement and adaptation of practices in response to evolving technological advancements. The document calls for the establishment of a clear governance structure to oversee AI implementation, ensuring that banks can leverage AI technologies safely and effectively. While specific time horizons or targets are not explicitly stated, the framework serves as a roadmap for the strategic transformation of the banking sector through AI, promoting sustainable development and innovation.