The adoption of artificial intelligence (AI) by financial institutions has moved rapidly from the pilot or planning stage to core process systems, such as fraud detection or payments. While these technologies can offer significant benefits, they should be adopted with robust risk management controls to ensure AI is deployed safely and responsibly.

 

On February 18, 2026, the U.S. Department of Treasury (Treasury) released two guidance documents intended to help institutions navigate the evolving landscape of AI: (i) the Artificial Lexicon (AI Lexicon); and (ii) the Financial Services AI Risk Management Framework (FS AI RMF). The AI Lexicon is intended to create common definitions for critical AI concepts to help institutions enable clear communication regarding AI across various departments. The FS AI RMF is a practical tool intended to help institutions create a good risk management process that can help identify, manage, and govern risks throughout the AI lifecycle (from the initial planning stage to actual deployment).

 

While these resources do not create binding obligations, they provide extremely helpful guidance in how to strengthen an institution’s risk management processes to address risks specific to AI. As such, please join us at the March BCG Monthly Telephone Briefing where we will discuss practical tips on how to manage risks arising from AI. Handout to be posted Thursday, March 19th.